External Debt

Ashmore SICAV EM Sovereign Investment Grade Debt Fund

Fund share class
Price
USD 98.41
As at 23 May 2024
Dealing frequency
Daily
Fund size
USD 416,349,069
As at 30 Apr 2024
Share class
Institutional
Share class currency
USD
FUND UPDATE Apr 2024 
Share class: USD Inst
Ashmore SICAV EM Sovereign Inv Grade Debt Fund (SICAV SIGDF)
Fund objective and strategy
SICAV SIGDF is an actively managed open-ended daily dealing UCITS V Luxembourg registered fund. Investments are mainly in Investment Grade transferable debt securities and other instruments issued by Emerging Market Sovereigns and Quasi-Sovereigns denominated in US dollars and other major currencies as well as local currencies. While the Fund references the benchmark for performance comparison, it can differ from the benchmark’s composition and also hold assets which are not part of the benchmark.
Fund statistics Fund Benchmark
Yield to maturity 5.82% 5.76%
Average coupon 4.78% 4.57%
Current yield 5.25% 4.98%
Option adjusted spread 115    102   
Modified duration 7.95    7.56   
Average life 13.86    12.71   
Distribution yield 3.27% -      
Breakdown by modified duration % Fund Benchmark
0 - 3 years 15.3 18.1
3 - 5 years 14.4 18.3
5 - 7 years 13.9 16.1
7 - 10 years 15.5 14.8
10+ years 37.7 32.8
Performance statistics Fund Benchmark
Standard Deviation 10.55% 10.34%
Information Ratio 0.02    -      
Beta 1.01    -      
Alpha 0.01    -      
R-Squared 0.98    -      
Top 10 country exposure % Fund Benchmark
Indonesia 13.4 9.2
Mexico 8.4 6.2
Chile 8.1 6.3
Qatar 7.2 6.7
Peru 6.4 4.7
Saudi Arabia 6.4 10.0
Hungary 5.8 5.7
Philippines 5.6 6.3
United Arab Emirates 5.6 6.9
Poland 5.3 5.9
Total number of countries 17 18
Credit rating % Fund Benchmark
AAA 0.0 0.0
AA 9.2 12.6
A 20.5 33.1
BBB 69.5 54.3
BB 0.0 0.0
B 0.8 0.0
0.0 0.0
Not rated 0.0 0.0
Average credit rating BBB A
Investment grade 99.2 100.0
Non-investment grade 0.8 0.0
Performance attribution(Bottom 3) % Asset allocation Security selection Currency effect Total
China -0.12 -0.02 0.00 -0.13
Mexico -0.01 -0.06 0.00 -0.08
Saudi Arabia 0.00 -0.07 0.00 -0.07
Performance and exposure disclaimers

1. Past performance (actual or simulated) is not a reliable indicator of future results. Periods greater than one year are annualised, dividends reinvested, index gross. The value of an investment in the Fund may fall as well as rise and investors may not get back the amount originally invested. Changes in rates of exchange between currencies may cause the value of investments to decrease or increase. 2. All performance statistics shown over rolling 3 years (or 1 year where 3 years of data is not yet available). Sharpe ratio assumes the US 3-month T-Bill risk free rate. 3. Duration and Yield statistics include all positions with a verified duration and yield figure, subject to the exclusion of defaulted positions. Bond securities with less than 1 year to maturity show yield to maturity on a non-annualised basis. 4. Theme values have been rebased to 100% based on the theme type of the underlying fund instruments. 5. Currency and country exposures may be reduced by active FX hedging (if applicable). 6. Credit ratings are based on issuers with a rating, figures provided are based on the middle of the three rating agencies S&P, Moody's and Fitch. If only two of the ratings are available then the lower rating of the two will be used. Percentages gross to 100%, where applicable. 7. Top 10 holdings do not include derivatives apart from total return swaps and p-notes. 8. For investments in Ashmore managed funds (where applicable), allocation and holdings information is shown on a "look through" basis, whereas attribution information is not shown on a look through basis. 9. Hedged benchmarks are used where applicable. 10. Attribution is reported Gross and shown in USD terms unless otherwise stated. 11. Ongoing Charges Figure (OCF) as at 31.12.2023. 12. A dash (-) represents zero holding. 0.0 and 0.00 represents a fractional holding. 13. Ashmore's Fund yield to maturity (YTM) calculation methodology differs from the calculation methodology used for the index. Ashmore's fund YTM assumes zero yield for defaulted securities, whereas JP Morgan uses a yield for defaulted securities, which inflates the index yield to maturity. Additionally, please note that Ashmore's reported YTM for fund and index are calculated on a 'weighted average security yield' basis per market convention, whereas the JP Morgan Index Monitor calculates YTM using the IRR of the underlying index security cashflows. Sources are Ashmore, data provider or administrator where appropriate.

Risk Warning: Emerging Markets (EM) carry risks as well as rewards. The Fund invests in EM, which may be more volatile than more mature markets. The value of your investment could go down as well as up. In extreme circumstances, this could result in a total loss of your investment. EM may suffer from liquidity problems; changes in rates of exchange between currencies may cause the value of your investment to decrease or increase; operational risks of investing are higher than in more developed markets. Neither past experience nor the current situation are necessarily accurate guides to the future. For a full description of these and further risks, you should refer to the latest full prospectus.
Marketing Information: Ashmore SICAV (société d’investissement à capital variable) is regulated by the Commission de Surveillance du Secteur Financier in Luxembourg. Ashmore Investment Management (Ireland) Limited, 32 Molesworth Street, Dublin 2 which is authorised and regulated by the Central Bank of Ireland is the Management Company and Principal Sales Agent and is responsible for the distribution of shares in the fund and may appoint sub-distributors in accordance with local laws and regulations, including Ashmore Investment Management Limited, 61 Aldwych, London, WC2B 4AE authorised and regulated by the Financial Conduct Authority (FCA) in the UK, where the fund is marketed in the UK under the FCA’s temporary marketing permissions regime, more information regarding this regime may be found on the FCA website and Ashmore Investment Management (US) Corporation, a registered broker-dealer and member of FINRA and SIPC. Representative and paying agent in Switzerland: BNP Paribas Securities Services, Paris, succursale de Zurich, Selnaustrasse 16, 8002 Zurich.
Marketing Communications
  1. Important Information: You should obtain appropriate independent professional advice and a copy of the current UCITS Key Investor Information Document ("KIID") or PRIIPS Key Investor Information Document ("KID") and full prospectus prior to making a decision to invest. Subscriptions will only be received and shares issued based on the current KIID/KID and full prospectus.
  2. Copies of the material contracts are available for inspection, and copies of the Articles of Incorporation of the Fund, the current Prospectus, the KIIDs/KIDs of the Fund, the Country Supplement, the Privacy Notice, the latest periodical reports (which form an integral part of this Prospectus), the Available Share Classes Document, as well as the Fund’s policies for the exercise of the voting rights, may be obtained in English, free of charge during normal office hours at the registered office of the Fund or from the Fund’s local agents, as required by applicable laws and may also be obtained on www.ashmoregroup.com. The KIIDs/KIDs of the fund are available in English and/or in the accepted language of the countries where the fund is registered. The investor complaints handling policy of the Fund, is available in English here.
  3. This document does not constitute and may not be relied upon as constituting investment advice or an inducement to invest.
  4. The information contained in this marketing document has been compiled in good faith, but no representation or warranty, express or implied, is made as to its accuracy, completeness or correctness. Save to the extent (if any) that exclusion of liability is prohibited by an applicable law or regulation, Ashmore, its officers, employees, representatives and agents expressly advise that they shall not be liable in any respect for any loss or damage, direct, indirect, consequential or otherwise, however arising (through negligence or otherwise) out of or in connection with any content /omissions from this document.
  5. Ashmore SICAV shares are not available for sale in jurisdictions that prohibit such a sale. This document is not available for distribution in such jurisdictions. The fund’s shares are not registered under the US Securities Act of 1933 (“1933 Act”) nor is the fund registered as an investment company under the US Investment Company Act of 1940 (“1940 Act”). Offers/sales of fund shares will be made in the US only by private placement, to persons qualifying as “accredited investors” as defined under the 1933 Act and as “qualified purchasers” as defined under the 1940 Act. To the extent permitted by applicable laws and regulations, Ashmore may provide investors in the fund with additional portfolio information not routinely available to other investors in the fund. Ashmore will determine the additional information to be provided. Investors wishing to receive such information should make a request to Ashmore and may be subject to additional confidentiality requirements.
  6. Ashmore Investment Management (Ireland) Limited acting as Management Company and Principal Sales Agent may decide to terminate the arrangements made for the marketing of this fund in accordance with Article 93a of Directive 2009/65/EC and Article 32a of Directive 2011/61/EU with regard to cross-border distribution of collective investment undertakings.
Fund launch date
Bloomberg ticker
ASHEMSV LX
ISIN
LU0493855521
SEDOL
B3NHT56
CUSIP
L02802483
Dividend frequency
Annually
Income type
Inc
Share class launch date
Currency hedged
No
Domicile
Luxembourg
Financial year end
Fund base currency USD
Fund code
SICAV-SIGDF
Launch price
100 USD
Minimum investment 1,000,000
Minimum additional investment 5,000
Annual management charge %
0.80%
Administrator

Northern Trust Global Services SE
T: +352 27 62 22 279
F: +352 27 62 22 333
Email: Ashmore-TA-Luxembourg@ntrs.com

Auditor

KPMG Audit
31, Allée Scheffer
L-2520 Luxembourg

Custodian

Northern Trust Global Services SE, is a credit institution authorised in Luxembourg.
Address: 10 rue du Château d’Eau, L-3364 Leudelange, Grand Duchy of Luxembourg.

Registrar

Northern Trust Global Services SE

Fund Share Class Documents
Click any of the documents below to view and download
Institutional Factsheet (USD) (EN)
Institutional USD (Inc) - UCITS KIID
Institutional USD (Inc) - PRIIPS KID
Fund Documents
Click any of the documents below to view and download
Portfolio Holdings
SFDR - SICAV SIGDF - Article 10 Disclosure
SICAV Documents
Click any of the documents below to view and download
Supplementary Information Document (SID)
SICAV Application Form (Active Fields)
SICAV Subscription and Redemption Form (Active Fields)
Additional Important Information for: German Investors
Additional Important Information for: Canadian Investors
Additional Important Information for: Japanese Investors
Additional Important Information for: US Investors
Annual Report & Accounts - 31 December 2023
Semi Annual Report - 30 June 2023
Annual Report & Accounts - 31 December 2022
Semi Annual Report - 30 June 2022
Annual Report & Accounts - 31 December 2021
Semi Annual Report - 30 June 2021
Annual Report & Accounts - 31 December 2020
Semi Annual Report - 30 June 2020
Annual German Tax Investor Report - FY 2022 (DE)
Annual German Tax Investor Report - FY 2022 (EN)
Annual German Tax Investor Report - FY 2021 (DE)
Annual German Tax Investor Report - FY 2021 (EN)
Annual German Tax Investor Report - FY 2020 (DE)
Annual German Tax Investor Report - FY 2020 (EN)
Article 5 - Remuneration Statement
Proxy voting policy
Privacy Notice
SICAV Facility Agents
All Key Investor Information Documents (KIID)
Ashmore SICAV Prospectus - March 2024
Articles of Incorporation (15 Sep 2021)
Ashmore SICAV Complaints Handling Procedure
All Packaged retail and insurance-based investment products (PRIIPs) KIDs

UK reportable income

To obtain UK reportable income details for this fund, please go to https://www.kpmgreportingfunds.co.uk/

Disclaimer

To the extent permitted by applicable laws and regulations, Ashmore may provide investors holding security interests in the Fund with additional historical portfolio information which is not routinely available to other investors in such funds.  Ashmore will determine the level of additional information that may be provided.  Investors who want to receive such information should make a request to Ashmore and they may be subject to additional confidentiality requirements.