External Debt

Ashmore Emerging Markets Liquid Investment Portfolio

Fund share class
Price
USD 5.509
As at 31 Jan 2024
Dealing frequency
Monthly
Fund size
USD 305,242,972
As at 31 Jan 2024
Share class
Institutional
Share class currency
USD
FUND UPDATE Jan 2024 
Share class: USD Institutional
Ashmore Emerging Markets Liquid Investment Portfolio (EMLIP)
Fund objective and strategy
EMLIP is an open-ended Guernsey feeder fund. It offers investors access to a highly diversified portfolio of primarily liquid Emerging Markets debt. Investments are mainly USD denominated bonds, loans and derivatives of sovereign and corporate issuers but may also include local currency and special situations.
Fund statistics Fund Benchmark
Yield to maturity 9.30% 8.63%
Average coupon 5.07% 5.33%
Current yield 6.30% 5.77%
Option adjusted spread 430    284   
Modified duration 7.60    6.67   
Average life 14.85    11.45   
Distribution yield 10.94% -      
Top EM currency exposure % Fund Benchmark
Brazilian Real 1.0 -  
Hong Kong Dollar 0.1 -  
Singapore Dollar 0.0 -  
Mexican Peso 0.0 -  
Bulgarian Lev 0.0 -  
Total number of currencies 5 0
Breakdown by modified duration % Fund Benchmark
0 - 3 years 24.2 22.5
3 - 5 years 15.5 20.2
5 - 7 years 19.9 18.9
7 - 10 years 15.7 13.6
10+ years 33.2 24.7
Performance statistics Fund Benchmark
Standard Deviation 16.00% 10.88%
Information Ratio -0.50    -      
Beta 1.36    -      
Alpha -0.12    -      
R-Squared 0.86    -      
Top 10 country exposure % Fund Benchmark
Venezuela 11.7 -  
Mexico 7.7 5.2
Brazil 5.9 3.4
Indonesia 5.5 4.8
Guatemala 5.0 1.1
Saudi Arabia 4.2 4.9
Dominican Republic 4.0 3.0
Oman 3.6 3.2
Chile 3.3 3.3
China 3.2 4.2
Total number of countries 55 69
Credit rating % Fund Benchmark
AAA 0.0 0.0
AA 2.5 6.5
A 9.7 15.9
BBB 25.5 28.3
BB 23.3 22.4
B 16.7 18.5
12.1 8.1
Not rated 10.2 0.3
Average credit rating BB BB
Investment grade 37.6 50.7
Non-investment grade 52.2 49.0
Performance attribution(Bottom 3) % Asset allocation Security selection Currency effect Total
China -0.02 -0.06 0.00 -0.08
Saudi Arabia 0.00 -0.07 0.00 -0.07
Ecuador -0.07 0.00 0.00 -0.07

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. OCF's are as at 31.12.2023. 12. A dash (-) represents zero holding. 0.0 and 0.00 represents a fractional holding. 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 in any jurisdiction where the fund has not been approved for sale. The fund is not registered under the United States Securities Act of 1933, nor the United States Investment Company Act of 1940 and therefore may not directly or indirectly be offered or sold in the United States of America or any of its states, territories, possessions or other areas subject to its jurisdiction or to or for the benefit of a United States Person. 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.
Fund launch date
Bloomberg ticker
ASHEMLI GU
ISIN
GB0000242932
Dividend frequency
Annually
Income type
Inc
Share class launch date
Currency hedged
No
Domicile
Guernsey
Financial year end
Fund base currency USD
Fund code
GUERN-EMLIP
Minimum investment 100,000
Minimum additional investment 5,000
Annual management charge %
1.50%
Administrator

Northern Trust International Fund Administration Services (Guernsey) Limited
T: +44 1481 745 116
F: +44 1481 745 117
E: ashmore@ntrs.com

Auditor

KPMG Channel Islands Limited
PO Box 235
20 New Street
St Peter Port
Guernsey
GY1 4AN

Custodian

Northern Trust (Guernsey) Limited
PO Box 71
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3DA

Registrar

Northern Trust (Guernsey) Limited
Trafalgar Court
Les Banques
St Peter Port
Guernsey
GY1 3DA

Fund Share Class Documents
Click any of the documents below to view and download
Institutional Factsheet (USD)
Fund Documents
Click any of the documents below to view and download
Scheme Particulars
Report & Accounts for year ending August 2023
Report & Accounts for year ending August 2022
Report & Accounts for year ending August 2021
Report & Accounts for year ending August 2020
Annual German Tax Investor Report - FY 2022 (EN)
Annual German Tax Investor Report - FY 2022 (DE)
Annual German Tax Investor Report - FY 2021 (EN)
Annual German Tax Investor Report - FY 2021 (DE)
Annual German Tax Investor Report - FY 2020 (EN)
Annual German Tax Investor Report - FY 2020 (DE)
Annual German Tax Investor Report - FY 2019 (EN)
Annual German Tax Investor Report - FY 2019 (DE)

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.