External Debt

Ashmore Emerging Markets Debt Fund

Fund share class
USD 90.941813
As at 31 May 2023
Dealing frequency
Fund size
USD 411,983,108
As at 30 Apr 2023
Share class
Share class currency
Share class: USD Institutional
Ashmore Emerging Markets Debt Fund (AEMDF)
Fund objective and strategy
AEMDF is an open-ended, Cayman Islands incorporated, exempted company. It offers investors access to a portfolio of mainly Emerging Markets USD denominated sovereign bonds, but may include local currency, corporate debt and special situations. The Fund is US ERISA compliant.
Fund statistics Fund Benchmark
Yield to maturity 8.87% 8.38%
Average coupon 5.32% 5.11%
Current yield 6.26% 5.56%
Option adjusted spread 565.31    306.02   
Modified duration 7.76    6.94   
Average life 15.67    12.17   
Distribution yield -       -      
Top EM currency exposure % Fund Benchmark
Singapore Dollar 0.0 -  
Mexican Peso 0.0 -  
Total number of currencies 2 0
Breakdown by modified duration % Fund Benchmark
0 - 3 years 16.8 20.4
3 - 5 years 16.9 21.7
5 - 7 years 13.1 17.0
7 - 10 years 20.4 15.3
10+ years 33.5 25.6
Performance statistics Fund Benchmark
Standard Deviation 21.70% 14.04%
Information Ratio -0.43    -      
Beta 1.51    -      
Alpha 0.01    -      
R-Squared 0.95    -      
Top 10 country exposure % Fund Benchmark
Mexico 7.8 5.3
Indonesia 6.4 5.0
Argentina 6.3 1.4
China 6.1 4.7
Saudi Arabia 4.7 4.6
Brazil 4.4 3.3
Dominican Republic 4.1 2.9
Chile 3.8 3.2
Oman 3.8 3.3
Peru 3.5 2.8
Total number of countries 49 70
Credit rating % Fund Benchmark
AAA 0.0 0.0
AA 3.9 7.0
A 10.5 16.2
BBB 26.6 27.7
BB 25.3 22.2
B 15.0 20.4
14.4 5.9
Not rated 4.4 0.5
Average credit rating BB BB
Investment grade 40.9 51.0
Non-investment grade 54.7 48.4
Performance attribution(Bottom 3) % Asset allocation Security selection Currency effect Total
Brazil 0.00 -0.50 0.00 -0.51
El Salvador -0.07 0.00 0.00 -0.07
Sri Lanka -0.02 -0.02 0.00 -0.04

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. OCF's are as at 30.06.2022. 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, and the value of an investment in the fund could move sharply down or up. In extreme circumstances, this could result in a total loss of the investment. EM may suffer from liquidity problems; changes in rates of exchange between currencies may cause the value of investments to decrease or increase; the operational risks of investing are higher than in more developed markets. For a full description of these and further risks, investors should refer to the fund’s latest Scheme Particulars or (if applicable) other offering document. Please also read the important information outlined overleaf in conjunction with the latest Scheme Particulars or (if applicable) other offering document before investing.
Marketing Communications Only suitable for Eligible Counterparties, Professional Clients or investors meeting the FCA’s COBS 4.12 categories, as the fund is an “Unregulated Collective Investment Scheme”, the promotion of which either within the UK or from the UK is severely restricted by statute. Shares in the fund should only be purchased by persons with professional experience of participating in unregulated schemes, and who understand the high degree and variety of risk involved in emerging market investment. Interests in this fund are not available for sale in any jurisdiction in which such a sale would be prohibited. Accordingly this document is not available for distribution to the public in any jurisdiction where the fund has not been approved for sale, and offers and shares of fund shares in such jurisdictions may only be made in compliance with local private placement regulations. This document is issued by Ashmore Investment Advisors Limited (AIAL), which is authorised and regulated by the Financial Conduct Authority in the United Kingdom. The information and any opinions herein have been compiled in good faith, but no representation or warranty, express or implied, is made as to their accuracy, completeness or correctness. Save to the extent (if any) that exclusion of liability is prohibited by any applicable law or regulation, Ashmore, its officers, employees, representatives and agents expressly advise that they shall not be liable in any respect whatsoever for any loss or damage, whether direct, indirect, consequential or otherwise however arising (whether in negligence or otherwise) out of or in connection with the contents of or any omissions from this document. Prospective investors must obtain a copy of this fund’s latest Scheme Particulars or (if applicable) other offering document prior to making any decision to invest in it. This document does not constitute and may not be relied upon as constituting any form of investment advice or inducement to invest and prospective investors should obtain appropriate independent professional advice before making any investment in the fund. The fund is distributed in the US by Ashmore Investment Management (US) Corporation, a registered broker-dealer and member of FINRA and SIPC.
Fund launch date
Bloomberg ticker
Dividend frequency
Income type
Share class launch date
Currency hedged
Financial year end
Fund base currency USD
Fund code
Minimum investment 250,000
Minimum additional investment 50,000
Annual management charge %

Northern Trust International Fund
Administration Services (Ireland) Limited
George’s Court
54-62 Townsend Street
Dublin 2


PO Box 493 GT
Century Yard
Cricket Square George Town
Grand Cayman
Cayman Islands


The Northern Trust Company
Floor 12, 50 South LaSalle Street
Chicago, Illinois 60603
United States of America


Northern Trust International Fund
Administration Services (Ireland) Limited
George’s Court
54-62 Townsend Street
Dublin 2

Fund Share Class Documents
Click any of the documents below to view and download
Institutional Factsheet (USD)

UK reportable income

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


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.