Offshore Funds (UCITS)

Latin American Corporate Debt

A differentiated vehicle for investing in Latin American corporate debt.

Reasons to invest

  • A diversified portfolio of ‘best ideas’1 in Latin America
  • Benchmark unconstrained with significant off-benchmark exposure
  • Managed by sub-investment manager, Compass, who have over 20 years’ experience of investing in Latin American markets and have over 40 investment professionals in the region
1‘Best Ideas’ represents our highest conviction ideas following fundamental analysis.

Objective

Investment objective summary

  • The Fund aims to provide a high level of income with the opportunity for capital growth (i.e. to grow value of your investment) over the long term, from a diversified portfolio of debt securities (e.g. bonds) issued by Latin American Borrowers. These securities may be denominated in Latin American local currencies as well as hard currencies (globally traded major currencies).
      • The Fund promotes environmental and social characteristics in line with Article 8 of the EU Sustainable Finance Disclosure Regulation (SFDR). The Fund will not invest in certain borrowers. Over time, the Investment Manager may, in accordance with the Fund’s investment policy, apply additional exclusions to be disclosed on the website, as they are implemented.

      Fund features

      • A differentiated vehicle for investing solely in Latin American corporate debt
      Tomas Venezian
      Portfolio Manager
      Mr. Venezian is a Partner at Compass Group, Head of Corporate Debt, and Co-Portfolio Manager of...
      Nicolas Garcia-Huidobro
      Portfolio Manager
      Nicolás is a Co-Portfolio Manager of the Latin American Corporate Debt Strategies. Previously, alongside his current...

      Performance & returns

      Literature

      Portfolio & Holdings

      Date as of 31/03/2026
      Fund Duration Contribution
      Fund NAV%
      Index NAV%
      US Dollar
      4.4

      Distributions and Yields

      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, 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.

      For a full description of the Morningstar rating for funds, please see the attached guide. A rating is not a recommendation to buy, sell or hold a guide.

      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.

      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.