Emerging Markets Corporate Debt

Summary

STRATEGY FACTS

As of 12/31/2018 tooltip

When Listed:

Mutual funds and CIT only available in the United States.

SICAVs only available in certain non-U.S. countries. Please check country availability.

Available Vehicles Separate Account
Mutual Fund
SICAV
Investment Universe Emerging Markets Debt
Benchmark JP Morgan CEMBI Broad Diversified
Inception Date 09/01/2014
Total Assets $480.35 M

TARGET

Tracking Error 1.5% to 3.0%
Excess Return 1.12% - 3.0%

INVESTMENT TEAM

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Portfolio managers are not licensed by the Hong Kong Securities and Futures Commission to perform any regulated function in or from Hong Kong. Furthermore, none of the portfolio managers are located in or operate in or from Hong Kong.

Documents & Resources

 

The Emerging Markets Corporate Debt Strategy seeks to add diversification and income to a core fixed income portfolio for investors pursuing reduced duration and minimal local currency risk.

We believe:

  • Misunderstood and mispriced risks within emerging markets create inefficiencies and anomalies that can be exploited.
  • An active, research-driven, bottom-up approach to evaluate countries and companies, combined with robust macro and thematic analysis is the best way to exploit these inefficiencies.
  • A disciplined valuation framework focused on relative value is critical in pricing fundamental risks appropriately.
  • Focus on rigorous risk budgeting and continuous stress testing are integral to achieving strong and consistent risk-adjusted results.
  • Diversified sources of return through active positions in duration, yield curve, country allocation, sector allocation, currency allocation and security selection help generate a more consistent return profile.

Performance

As of 12/31/2018

  COMPOSITE PERFORMANCE IN USD (%)
  QTR YTD 1 YR 3 YR* 5 YR* Since Inception*
Emerging Markets Corporate Debt (Gross) -0.11% -1.76% -1.76% 5.53% --- 3.95%
Emerging Markets Corporate Debt (Net) -0.16% -1.97% -1.97% 4.83% --- 3.16%
Standard Deviation --- --- 2.86% 3.54% --- 3.66%
Sharpe Ratio     -1.27 1.28   0.89
JP Morgan CEMBI Broad Diversified -0.04% -1.65% -1.65% 5.20% --- 3.38%
Excess Return -0.07% -0.12% -0.12% 0.33% --- 0.57%
Tracking Error     0.60% 0.55%   0.63%
Information Ratio     -0.19 0.60   0.90

*Annualized

Sources: Information has been obtained from sources believed to be reliable but J.P. Morgan does not warrant its completeness or accuracy. The Index may not be copied, used or distributed without J.P.Morgan's prior written approval. ©2019, J.P. Morgan Chase & Co. All rights reserved; FactSet.

Data reflects past performance. Past performance does not guarantee future results. The value of investments may fluctuate. Data assumes reinvestment of dividends and capital gains.

For a presentation that complies with the GIPS® standards, click here  .

For purposes of compliance with the Global Investment Performance Standards ("GIPS®"), the Firm is defined as American Century Investment Management, Inc. ("ACIM"). ACIM claims compliance with GIPS®. Emerging Markets Corporate Debt seeks to provide a total return that exceeds the benchmark (JP Morgan CEMBI Broad Diversified Index) by investing in investment grade and high-yield corporate and sovereign debt and derivative securities of emerging markets in U.S. dollar and local denominated currencies. Returns are calculated and stated in U.S. dollars and may increase or decrease as a result of currency fluctuation.