GSF Lux SICAV

Asia Dynamic Bond

Latest NAV Price

19.8600
26 February 2021

NAV daily change %

0.20

Dealing currency

USD

Fund size

USD 24.93 M
26 February 2021

Latest NAV Price

19.8600
26 February 2021

NAV daily change %

0.20

Dealing currency

USD

Fund size

USD 24.93 M
26 February 2021

Objective

Investment objective summary

  • The Fund aims to provide income with the opportunity for capital growth over at least 5 years.
      • The Fund invests primarily through a diversified portfolio of bonds (contracts to repay borrowed money which pay interest at fixed or variable times e.g. bonds) and in related derivatives (financial contracts whose value is linked to the price of an underlying asset).
      • These bonds are issued primarily by Asian governments, institutions or companies and may be of investment grade (high quality) or below investment grade as rated by the credit rating agencies (companies that rate the ability of the issuers of bonds to repay borrowed money) and of any duration. The Fund may invest in bonds through the China Interbank Bond Market.
      • The Fund may invest in other assets such as cash, derivatives, money market instruments (tradable securities where money can be invested for short periods) and other funds (which may be managed by the Investment Manager, other companies in the same group as the Investment Manager or a third party).
      • Derivatives may be used for investment purposes (i.e. in order to achieve the Fund's investment objectives) or for efficient portfolio management purposes e.g. with the aim of either managing the Fund risks or reducing the costs of managing the Fund.
      Alan Siow
      Portfolio Manager
      Alan is a portfolio manager in the Fixed Income team at Ninety One with responsibility for...
      Victoria Harling
      Portfolio Manager
      Victoria is Head of Emerging Market Corporate Debt and is responsible for managing the Emerging Market...

      Performance & returns

      26/02/2021
      As the share class was launched less than 12 months ago, performance is not disclosed.

      Key facts

      • Domicile

        Luxembourg
      • Risk profile

        3
      • ISIN

        LU2279441880
      • SEDOL

        BLD8XQ4
      • CUSIP

        L6S44C527
      • Bloomberg code

        NIADBAA LX
      • Benchmark

        JP Morgan Asia Credit
      • Fund inception date

        26/01/2021
      • Share class inception date

        26/01/2021
      • Minimum investment

        USD3,000 / equivalent approved currency
      • Valuation & transaction cut-off

        16:00 New York Time (forward pricing)

      Portfolio & Holdings

      Date as of 31/01/2021
      Index
      Fund
      AAA
      0.7
      AA
      5.7
      A
      30.5
      BBB
      40.3
      BB
      8.2
      B
      8.2
      CCC
      1.2
      Not Rated
      5.3
      Cash and near cash
      *Bond ratings are Ninety One approximations.

      Charges

      Maximum initial charge %

      5.00

      Ongoing charge %

      1.50
      The Fund may incur further expenses (not included in the above Ongoing charge) as permitted by the Prospectus.

      Specific fund risks

      Charges from capital

      For Inc-2 and Inc-3 shares classes, expenses are charged to the capital account rather than to income, so capital will be reduced. This could constrain future capital and income growth. Income may be taxable.

      Currency exchange

      Changes in the relative values of different currencies may adversely affect the value of investments and any related income.

      Default

      There is a risk that the issuers of fixed income investments (e.g. bonds) may not be able to meet interest payments nor repay the money they have borrowed. The worse the credit quality of the issuer, the greater the risk of default and therefore investment loss.

      Derivatives

      The use of derivatives may increase overall risk by magnifying the effect of both gains and losses leading to large changes in value and potentially large financial loss. A counterparty to a derivative transaction may fail to meet its obligations which may also lead to a financial loss.

      Emerging market (inc. China)

      These markets carry a higher risk of financial loss than more developed markets as they may have less developed legal, political, economic or other systems.

      Government securities exposure

      The Fund may invest more than 35% of its assets in securities issued or guaranteed by a permitted sovereign entity, as defined in the definitions section of the Fund’s prospectus. Currently, it is expected that the Fund will exceed this limit in securities issued by the Chinese government.

      Interest rate

      The value of fixed income investments (e.g. bonds) tends to decrease when interest rates rise.

      Liquidity

      There may be insufficient buyers or sellers of particular investments giving rise to delays in trading and being able to make settlements, and/or large fluctuations in value. This may lead to larger financial losses than might be anticipated.

      We recommend that you seek independent financial advice to ensure this Fund is suitable for your investment needs.

      All the information contained in this communication is believed to be reliable but may be inaccurate or incomplete. Any opinions stated are honestly held but are not guaranteed and should not be relied upon.

      This communication is provided for general information only. It is not an invitation to make an investment nor does it constitute an offer for sale. The full documentation that should be considered before making an investment, including the Prospectus and Key Investor Information Documents, which set out the Fund specific risks, are available from Ninety One. This Fund should be considered as a long-term investment.

      Performance data source: © Morningstar, NAV based, (net of fees, excluding initial charges), total return for GSF Luxembourg domiciled funds and net income reinvested where applicable for OEIC United Kingdom domiciled funds, in the share class dealing currency. Performance would be lower had initial charges been included as an initial charge of up to 5% (10% for S shares) may be applied to your investment. This means that for an investment of $1,000, where the initial charge equals 5%, $950 ($900 for S shares) would actually be invested in the Fund. Returns to individual investors will vary in accordance with their personal tax status and tax domicile.

      Morningstar Analyst rating™: Copyright © 2020. Morningstar. All Rights Reserved. The information, data and opinions expressed and contained herein are proprietary to Morningstar and/or its content providers and are not intended to represent investment advice or recommendation to buy or sell any security; are not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this Rating, Rating Report or Information contained therein.

      The overall rating for a fund, often called the ‘star rating’, is a third party rating derived from a quantitative methodology that rates funds based on an enhanced Morningstar™ Risk-Adjusted Return measure. ‘Star ratings’ run from 1 star (lowest) to 5 stars (highest) and are reviewed at the end of every calendar month. The various funds are ranked by their Morningstar™ Risk-Adjusted Return scores and relevant stars are assigned. It is important to note that individual shareclasses of each fund are evaluated separately and their ratings may differ depending on the launch date, fees and expenses relevant to the shareclass. In order to achieve a rating the share class of a fund must have a minimum three-year performance track record.

      For a full description of the ratings, please see our ratings guide. A rating is not a recommendation to buy, sell or hold a fund.

      The portfolio may change significantly over a short period of time. This is not a buy or sell recommendation for any particular security. Figures may not always sum to 100 due to rounding. 

      For an explanation of statistical terms, please see our glossary.