ELBIX: Ashmore Emerging Markets Local Currency Bond Fund - MutualFunds.com

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Ashmore Emerging Mkts Lcl Ccy Bd Instl

ELBIX - Snapshot

Vitals

  • YTD Return -8.5%
  • 3 Yr Annualized Return -1.4%
  • 5 Yr Annualized Return 4.4%
  • Net Assets $32.3 M
  • Holdings in Top 10 21.5%

52 WEEK LOW AND HIGH

$7.26
$6.04
$7.87

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.28%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 56.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $1,000,000
  • IRA N/A

Fund Classification

  • Primary Theme
  • Fund Type Open End Mutual Fund
  • Investment Style Emerging-Markets Local-Currency Bond

Compare ELBIX to Popular Emerging Markets Bond Funds and ETFs

Overview

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

$110.28

-0.85%

$16.08 B

4.65%

$5.17

-3.70%

0.39%

$14.26

-0.49%

$7.10 B

5.05%

$0.72

-5.37%

0.82%

$8.01

-0.37%

$6.63 B

5.16%

$0.41

-5.21%

0.84%

$14.66

-0.27%

$6.57 B

4.64%

$0.68

-1.35%

0.83%

$10.85

-0.55%

$5.04 B

5.57%

$0.61

-6.71%

0.90%

ELBIX - Profile

Distributions

  • YTD Total Return -8.5%
  • 3 Yr Annualized Total Return -1.4%
  • 5 Yr Annualized Total Return 4.4%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 5.62%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Ashmore Emerging Markets Local Currency Bond Fund
  • Fund Family Name
    Ashmore
  • Inception Date
    Dec 08, 2010
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Mark Coombs

Fund Description

The fund seeks to achieve its objective by investing principally in debt instruments of Sovereign and Quasi-Sovereign issuers of Emerging Market Countries that are denominated in the local currency of the issuer. Sovereigns are governments of Emerging Market Countries. Quasi-Sovereigns are governmental entities, agencies and other issuers the obligations of which are guaranteed by an emerging market government and issuers otherwise represented in the J.P. Morgan Government Bond Index-Emerging Markets Global Diversified or a similar index as determined by the Investment Manager. The fund is non-diversified.


ELBIX - Performance

Return Ranking - Trailing

Period ELBIX Return Category Return Low Category Return High Rank in Category (%)
YTD -8.5% -28.6% 6.0% 76.34%
1 Yr -3.4% -12.5% 14.3% 93.56%
3 Yr -1.4%* -8.2% 8.9% 90.53%
5 Yr 4.4%* -2.9% 7.9% 71.29%
10 Yr N/A* -2.3% 7.1% N/A

* Annualized

Return Ranking - Calendar

Period ELBIX Return Category Return Low Category Return High Rank in Category (%)
2019 11.3% -9.9% 13.5% 3.46%
2018 -9.1% -31.2% 73.9% 23.55%
2017 11.3% -9.1% 14.2% 1.95%
2016 8.1% -9.2% 219.0% 20.37%
2015 -19.6% -29.9% 0.9% 88.02%

Total Return Ranking - Trailing

Period ELBIX Return Category Return Low Category Return High Rank in Category (%)
YTD -8.5% -28.6% 6.0% 76.62%
1 Yr -3.4% -13.7% 14.3% 85.15%
3 Yr -1.4%* -8.2% 8.9% 88.17%
5 Yr 4.4%* -2.9% 7.9% 67.00%
10 Yr N/A* -2.3% 6.8% N/A

* Annualized

Total Return Ranking - Calendar

Period ELBIX Return Category Return Low Category Return High Rank in Category (%)
2019 11.3% -9.9% 13.6% 4.61%
2018 -9.1% -31.2% 0.0% 45.57%
2017 11.3% 0.0% 17.0% 17.53%
2016 8.1% -9.2% 242.1% 33.33%
2015 -19.6% -29.9% 7.1% 89.67%

NAV & Total Return History


ELBIX - Holdings

Concentration Analysis

ELBIX Category Low Category High ELBIX % Rank
Net Assets 32.3 M 539 K 16.1 B 84.34%
Number of Holdings 234 3 1334 38.78%
Net Assets in Top 10 7.42 M -100 M 2.05 B 80.61%
Weighting of Top 10 21.54% 1.0% 100.0% 48.47%

Top 10 Holdings

  1. Secretaria Tesouro Nacional 10% 3.34%
  2. Brazil (Federative Republic) 10% 3.09%
  3. Secretaria Tesouro Nacional 10% 2.73%
  4. Standard Chartered Bank 8.12% 2.13%
  5. Republic of Chile 4.5% 1.82%
  6. Russian Federation 7.75% 1.82%
  7. Russian Federation 7.7% 1.77%
  8. Secretaria Tesouro Nacional 10% 1.68%
  9. Mexico (United Mexican States) 7.75% 1.66%
  10. Republic of South Africa 8% 1.49%

Asset Allocation

Weighting Return Low Return High ELBIX % Rank
Bonds
88.00% 0.00% 217.91% 86.70%
Cash
11.99% -116.30% 103.65% 8.03%
Stocks
0.00% -0.01% 6.23% 80.61%
Preferred Stocks
0.00% 0.00% 0.00% 75.90%
Other
0.00% -7.79% 2.12% 74.52%
Convertible Bonds
0.00% 0.00% 14.72% 86.98%

Bond Sector Breakdown

Weighting Return Low Return High ELBIX % Rank
Government
47.86% 0.00% 99.67% 78.12%
Derivative
43.14% 0.00% 57.62% 3.32%
Cash & Equivalents
5.51% 0.00% 100.00% 42.38%
Corporate
3.48% 0.00% 97.77% 87.26%
Securitized
0.00% 0.00% 2.66% 77.01%
Municipal
0.00% 0.00% 0.00% 75.90%

Bond Geographic Breakdown

Weighting Return Low Return High ELBIX % Rank
Non US
87.46% 0.00% 214.85% 82.83%
US
0.54% -123.71% 217.91% 30.47%

ELBIX - Expenses

Operational Fees

ELBIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.28% 0.01% 33.09% 46.99%
Management Fee 0.95% 0.00% 1.50% 93.41%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.02% 0.01% 0.65% 10.00%

Sales Fees

ELBIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 1.50% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

ELBIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.50% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

ELBIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 56.00% 0.00% 312.50% 35.96%

ELBIX - Distributions

Dividend Yield Analysis

ELBIX Category Low Category High ELBIX % Rank
Dividend Yield 0.00% 0.00% 14.99% 78.30%

Dividend Distribution Analysis

ELBIX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Quarterly Monthly Monthly

Net Income Ratio Analysis

ELBIX Category Low Category High ELBIX % Rank
Net Income Ratio 5.62% -0.61% 9.08% 30.14%

Capital Gain Distribution Analysis

ELBIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Dividend Payout History

View More +

ELBIX - Fund Manager Analysis

Managers

Mark Coombs


Start Date

Tenure

Tenure Rank

Dec 08, 2010

9.82

9.8%

Mark Coombs, the Investment Manager’s Chief Executive Officer and Chairman of the Investment Committee, having been involved in emerging markets since 1983. He holds an MA (Hons) in Law from Cambridge University and joined Grindlays Bank plc in 1983. Following its acquisition by Australia and New Zealand Banking Group Limited (ANZ) he was appointed Head of Emerging Markets Group for ANZ Merchant Bank Limited in 1988 and in 1991 became Head of the International Merchant Banking Division of ANZ Grindlays Bank plc and in 1997 Head of Markets for ANZ Group. He was appointed to the Board of the Emerging Markets Trade Association in 1993 and Co-Chair in 2000. He has been Chairman of the Investment Committee since he established the business as a separate division within ANZ in 1992, and is responsible for setting overall investment strategy of funds managed.

Herbert Saller


Start Date

Tenure

Tenure Rank

Dec 08, 2010

9.82

9.8%

Mr. Saller has been Senior portfolio manager and head of external debt of Ashmore since 2009, and a member of Ashmore’s investment committee since he joined Ashmore in 2002. He began his investment career in 1988 and has a business management degree from Verwaltungs-und Wirtschafts-Akademie, Munich.

Ricardo Xavier


Start Date

Tenure

Tenure Rank

Dec 08, 2010

9.82

9.8%

Ricardo Xavier is Senior portfolio manager of Ashmore since 2003, Ashmore’s head of local currency and the deputy chairman of Ashmore’s investment committee since 2014. Mr. Xavier has geographic responsibility for Latin America, and product responsibility for local currencies, local currency debt and related derivatives. He began his investment career in 1992 and has a bachelor’s degree from Fundação Armando Alvares Penteado, Sao Paulo.

Robin Forrest


Start Date

Tenure

Tenure Rank

Jul 02, 2012

8.25

8.3%

Robin Forrest is a Senior Portfolio Manager of Ashmore Investment Management Limited and a Member of its Investment Committee. Mr. Forrest joined Ashmore in 2006 after 13 years at JP Morgan, where he was most recently Vice President—Situational Finance, with a focus on credit intensive corporate situations in CEEMEA geographies. During this period, he had several years of experience in each of capital markets, origination, structuring, execution, syndication, risk management and credit within loan and high yield markets and in Emerging Markets. Robin has a BA (Hons) in Russian & French from Oxford University.

Jan Dehn


Start Date

Tenure

Tenure Rank

Oct 01, 2016

4.0

4.0%

Dr. Jan Dehn, Global Head of Research, joined Ashmore in 2005. As a global strategist and economist, with vast experience in international macroeconomic issues, Dr. Dehn is responsible for making assessments on markets and economies at a national and global level. His expertise spans developed and Emerging Markets with particular emphasis on the international linkages between economics, finance and politics. At Ashmore, Dr. Dehn has traded developed and Emerging Markets, including sovereign external debt, local currency bonds, foreign currencies, corporate bonds, and Frontier Markets. Earlier in his career, Dr. Dehn was a strategist at Credit Suisse First Boston in New York and London. He has also worked as a consultant at the World Bank in Washington DC undertaking research on public finance and commodity issues. Dr. Dehn has also been economic adviser to a number of Emerging Markets governments. Dr. Dehn holds a Doctorate in Economics from Oxford University, a Master’s Degree in Quantitative Economics from Warwick University, and a Bachelor’s Degree in Economics from Sussex University.

Fernando Assad


Start Date

Tenure

Tenure Rank

Oct 01, 2016

4.0

4.0%

Fernando Assad is a Senior Portfolio Manager of the Investment Manager and a Member of its Investment Committee. He joined Ashmore Investment Advisors Limited in 2007 as an equity portfolio manager after six years at Morgan Stanley where he was a Vice President responsible for management of Emerging Market equities and the launch of the Global Emerging and Convergence Opportunities portfolio within Global Wealth Management in London. He previously worked for SG Asset Management Emerging Markets and as an intern in Merrill Lynch Broker Services. Mr. Assad is a CFA Charterholder and has a BA in Economics from the American International University in London.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.03 25.77 5.4 0.75