Our broadest emerging market fixed income fund, run on a total return approach, utilising local and hard currency and corporate bonds.
1) The fund seeks to increase the value of its assets over the medium term by investing mainly in a limited number of bonds and debt securities or other similar securities issued by emerging countries or by companies characterised by a strong financial structure and/or potential for profitable growth that have their registered offices or conduct a majority of their business activities in these countries.
2) The fund may use financial derivative instruments extensively for investment and/or hedging purposes, which may involve material additional risks, for example counterparty default risk or insolvency, volatility risk, liquidity risk, leverage risk and valuation risk, and may expose the fund to significant losses.
3) The fund is exposed to interest rate and credit risks.
4) The fund may invest in non-investment grade or unrated debt securities including sovereign debt, which may expose the fund to higher credit/default risk and volatility.
5) The fund has significant exposure to emerging markets and a limited number of debt securities is likely to be subject to a greater concentration risk and higher volatility than a more diversified investment. Emerging markets may have higher legal, regulatory and political risk.
6) The management company may at its discretion pay dividends out of the capital of the fund. Payment of dividends out of capital amounts to a return or withdrawal of part of an investor’s original investment or from any capital gains attributable to that original investment. Any distributions involving payment of dividends out of the fund’s capital may result in an immediate reduction of the net asset value per share.
7) The monthly distribution share classes will continue to distribute monthly dividends in periods when the fund has negative return, which will further reduce the net asset value of the fund.
8) Investors should not solely rely on this document to make any investment decision. Please refer to the Hong Kong offering document for further information (including the risk factors) about the fund.
9) On 8 December 2008, ABN AMRO Funds Global Emerging Markets Bond Fund was merged into BNPPL1 Bond Best Selection World Emerging; which was then merged into PARVEST Bond Best Selection World Emerging on 21 May 2013. The performance / information shown on / before the date of mergers belong to the respective old funds. The inception date is that of ABN AMRO Funds Global Emerging Markets Bond Fund.
10) Effective 31 March 2008, the benchmark has been changed from AAAM precalc for AAF Global Emerging Markets Bond (USD) to JPM EMBI Global (USD) RI. Effective 1 May 2015, the benchmark has been further changed to 50% JPM GBI-EM Global Diversified (RI) + 50% JPM EMBI Global Diversified (RI). Any benchmark performances quoted before 1 May 2015 belong to the previous respective benchmarks.
Emerging Markets Fixed Income (EMFI) is a large asset class with breadth and depth, amounting to USD 19.4tn*. This asset class provides diversification benefits. As interest rates and volatility levels rise from historic low levels, not all EMs will benefit uniformly. A significant difference in performance within EM asset classes provides active managers more security selection opportunities with the aim to generate performance above benchmark.
Moreover, valuations of emerging markets look compelling on an absolute basis and relative to developed markets.
- Parvest Bond Best Selection World Emerging: The fund seeks to increase the value of its assets over the medium term by investing in bonds and other debt instruments issued by emerging countries or companies from emerging countries, or operating in these countries, with a solid financial structure and/or potential for earnings growth.
- The fund applies an unconstrained and flexible investment approach: via dynamic asset allocation, a contrarian investment philosophy and disciplined risk management.
- Offers an attractive yield and monthly payout for the Classic MD share class
- 8.39% yield#
Latest dividend yield (31/01/2019). Classic MD aims to pay a dividend on a monthly basis.
Dividend rate is not guaranteed. Dividends may be paid out of capital. Important Note 6
- 8.39% yield#
- Monthly payout of USD 0.13 per unit in 2019###
(as of 16/01/2019)
- Monthly payout of USD 0.13 per unit in 2019###
- First quartile ranking in March 2018 & second quartile ranking in September 2018:
- Rated by eVestment Alliance####
- An award-winning investment team: The team of specialists is supported by a strong EM network.
* JP Morgan, Bloomberg, October 2018.
** Source: JP Morgan, 31 December 2018. Gov refers to Government. EM Local Currency Government Debt (USD hedged) refers to the JP Morgan GBI-EM Global Diversified (USD Hedged) Index; EM Local Currency Government Debt (USD unhedged) refers to the JP Morgan GBI-EM Global Diversified (USD Unhedged) Index; EM USD Government Debt refers to JP Morgan EMBI Global Diversified Index; EM USD Corporate Debt refers to the JP Morgan CEMBI Broad Diversified Index. Past performance is not indicative of current or future performance.
# Reference calculation is based on Classic MD shares with the following formula: ([(1+r/p)^12-1] x 100). r = Monthly dividend; p = ex-dividend price.
## Source: BNPP AM, April 2018.
### Source: eVestment Alliance (Global Emerging Markets Fixed Income – Blended Currency Universe), BNPP AM, 1st quartile ranking refers to the 2-year performance as at 31 March 2018, 2nd quartile ranking refers to the two and a half year performance as at 30 September 2018.
^ Source: Insurance Asia News/ Institutional Asset Management Awards 2018 reflects the performance as of 31 December 2017. Benchmark Fund of The Year Awards reflects the performance as of end August 2018 period.
Investment involves risks. Please refer to the Hong Kong Offering Document for further information (including the risk factors) about the fund. This material is issued and has been prepared by BNP PARIBAS ASSET MANAGEMENT Asia Limited. This material has not been reviewed by the Hong Kong Securities and Futures Commission (SFC). This material is produced for information purposes only and does not constitute an offer to buy nor a solicitation to sell, nor shall it form the basis of or be relied upon in connection with any contract or commitment whatsoever or investment advice. Investors should consult their own legal and tax advisors in respect of legal, accounting, domicile and tax advice prior to investing in the financial instrument(s) in order to make an independent determination of the suitability and consequences of an investment therein, if permitted. Given the economic and market risks, there can be no assurance that the fund will achieve its investment objectives. Investors may not get back the amount they originally invested.