EMCIX: Ashmore Emerging Mkts Corp Inc Instl

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EMCIX Ashmore Emerging Mkts Corp Inc Instl

  • Fund
  • EMCIX
  • Price as of: Jan 17, 2020
  • $8.45
    + $0.01 + 0.12%

Profile

EMCIX - Profile

Vitals

  • YTD Return 1.8%
  • 3 Yr Annualized Return 0.0%
  • 5 Yr Annualized Return 0.8%
  • Net Assets $484 M
  • Holdings in Top 10 20.2%

52 WEEK LOW AND HIGH

$8.45
$8.09
$8.45

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.26%

SALES FEES

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

BROKERAGE FEES

  • Turnover 96.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

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

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Emerging Markets Bond

Distributions

  • YTD Total Return 1.8%
  • 3 Yr Annualized Total Return 0.0%
  • 5 Yr Annualized Total Return 0.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 6.75%
DIVIDENDS
  • Dividend Yield 0.5%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Ashmore Emerging Markets Corporate Income Fund Institutional Class
  • Fund Family Name
    Ashmore
  • Inception Date
    Dec 08, 2010
  • Shares Outstanding
    N/A
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Ricardo Xavier

Fund Description

The fund seeks to achieve its objective by investing principally in debt instruments of corporate issuers, which may be denominated in any currency, including the local currency of the issuer. A Corporate issuer is an issuer located in an Emerging Market Country or an issuer deriving at least 50% of its revenues or profits from goods produced or sold, investments made, or services performed in one or more Emerging Market Countries or that has at least 50% of its assets in one or more Emerging Market Countries.


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Categories

Performance

EMCIX - Performance

Return Ranking - Trailing

Period EMCIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.8% -0.7% 2.9% 8.65%
1 Yr 3.3% 0.5% 16.8% 90.10%
3 Yr 0.0%* -1.2% 9.0% 93.75%
5 Yr 0.8%* -4.0% 6.5% 53.23%
10 Yr N/A* -4.1% 6.2% N/A

* Annualized

Return Ranking - Calendar

Period EMCIX Return Category Return Low Category Return High Rank in Category (%)
2019 3.9% 0.1% 9.4% 85.15%
2018 -9.8% -15.9% 3.1% 72.22%
2017 7.5% 0.1% 10.8% 25.64%
2016 9.9% -1.7% 9.9% 1.52%
2015 -10.3% -21.1% -0.5% 70.00%

Total Return Ranking - Trailing

Period EMCIX Return Category Return Low Category Return High Rank in Category (%)
YTD 1.8% -0.7% 2.9% 8.65%
1 Yr 3.3% 0.3% 16.8% 89.11%
3 Yr 0.0%* -1.0% 9.0% 93.75%
5 Yr 0.8%* -4.0% 6.5% 62.90%
10 Yr N/A* -3.9% 6.2% N/A

* Annualized

Total Return Ranking - Calendar

Period EMCIX Return Category Return Low Category Return High Rank in Category (%)
2019 3.9% 0.1% 9.4% 85.15%
2018 -9.8% -15.9% 3.1% 77.78%
2017 7.5% 0.1% 12.8% 44.87%
2016 9.9% -1.2% 12.7% 9.09%
2015 -10.3% -21.1% 7.1% 75.00%

NAV & Total Return History


Holdings

EMCIX - Holdings

Concentration Analysis

EMCIX Category Low Category High EMCIX % Rank
Net Assets 484 M 7.19 M 145 B 45.19%
Number of Holdings 198 4 6172 67.31%
Net Assets in Top 10 92.9 M 2.33 M 7.02 B 46.15%
Weighting of Top 10 20.24% 5.0% 2135.7% 77.88%

Top 10 Holdings

  1. Petrobras Global Finance B.V. 6.85% 4.38%
  2. Petrobras Global Finance B.V. 6.88% 2.58%
  3. Dubai World B1 Tl 2.52%
  4. DTEK Finance PLC 10.75% 2.18%
  5. Altice Financing S.A. 7.5% 1.66%
  6. Samarco Mineracao S.A. 4.12% 1.52%
  7. Metinvest B.V. 7.75% 1.49%
  8. Teva Pharmaceutical Finance Netherlands III B.V. 4.1% 1.36%
  9. CBOM Finance p.l.c. 7.5% 1.28%
  10. Metinvest B.V. 8.5% 1.26%

Asset Allocation

Weighting Return Low Return High EMCIX % Rank
Bonds
95.67% 81.68% 8846.85% 31.73%
Cash
2.72% -8884.21% 18.25% 75.96%
Convertible Bonds
1.39% 0.00% 137.32% 8.65%
Stocks
0.22% 0.00% 101.23% 24.04%
Preferred Stocks
0.00% 0.00% 0.08% 96.15%
Other
0.00% -1.21% 42.34% 94.23%

Stock Sector Breakdown

Weighting Return Low Return High EMCIX % Rank
Energy
67.73% 0.00% 100.00% 42.42%
Basic Materials
18.48% 0.00% 32.93% 27.27%
Consumer Defense
13.80% 0.00% 13.80% 9.09%
Utilities
0.00% 0.00% 16.19% 96.97%
Technology
0.00% 0.00% 33.84% 96.97%
Real Estate
0.00% 0.00% 29.67% 96.97%
Industrials
0.00% 0.00% 13.41% 96.97%
Healthcare
0.00% 0.00% 10.63% 96.97%
Financial Services
0.00% 0.00% 100.00% 100.00%
Communication Services
0.00% 0.00% 7.02% 96.97%
Consumer Cyclical
0.00% 0.00% 29.89% 96.97%

Stock Geographic Breakdown

Weighting Return Low Return High EMCIX % Rank
Non US
0.18% 0.00% 54.66% 20.19%
US
0.04% -0.99% 46.57% 15.38%

Bond Sector Breakdown

Weighting Return Low Return High EMCIX % Rank
Corporate
87.73% 0.00% 87.73% 2.88%
Government
9.54% 6.31% 79.70% 98.08%
Cash & Equivalents
2.73% 0.33% 25.85% 74.04%
Derivative
0.00% 0.00% 73.36% 97.12%
Securitized
0.00% 0.00% 6.49% 96.15%
Municipal
0.00% 0.00% 0.22% 96.15%

Bond Geographic Breakdown

Weighting Return Low Return High EMCIX % Rank
Non US
92.25% 71.84% 8285.60% 29.81%
US
3.42% -13.87% 561.25% 60.58%

Expenses

EMCIX - Expenses

Operational Fees

EMCIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.26% 0.01% 43.49% 45.36%
Management Fee 1.15% 0.00% 1.60% 93.27%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.02% 0.02% 0.45% 10.71%

Sales Fees

EMCIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.50% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

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

EMCIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 96.00% 0.00% 129.00% 81.63%

Distributions

EMCIX - Distributions

Dividend Yield Analysis

EMCIX Category Low Category High EMCIX % Rank
Dividend Yield 0.51% 0.00% 2.65% 50.96%

Dividend Distribution Analysis

EMCIX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

EMCIX Category Low Category High EMCIX % Rank
Net Income Ratio 6.75% 0.14% 6.75% 1.03%

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

EMCIX - Fund Manager Analysis

Managers

Ricardo Xavier


Start Date

Tenure

Tenure Rank

Dec 08, 2010

9.07

9.1%

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.

Mark Coombs


Start Date

Tenure

Tenure Rank

Dec 08, 2010

9.07

9.1%

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

9.07

9.1%

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.

Robin Forrest


Start Date

Tenure

Tenure Rank

Jul 02, 2012

7.5

7.5%

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.

Fernando Assad


Start Date

Tenure

Tenure Rank

Oct 01, 2016

3.25

3.3%

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.

Jan Dehn


Start Date

Tenure

Tenure Rank

Oct 01, 2016

3.25

3.3%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.22 26.06 6.81 26.06