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Tailored for investment professionals this site provides information on our products, strategies and services. Please remember capital is at risk and past performance is not a guide to the future.

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Investec Emerging Markets Corporate Debt Fund

A global Emerging Market credit fund

Why Investec Emerging Markets Corporate Debt Fund?

  • We believe the debt issued by companies in emerging markets (EM) offers an attractive investment opportunity as it represents a growing universe of high-quality companies.
  • Many of these EM corporate debt issuers are linked to household names, have diverse revenue streams and should continue to expand their global footprint.
  • We also believe the debt issued by EM companies offers compelling risk-reward characteristics compared to other EM asset classes.
  • Despite potential headwinds from trade disputes, we believe the EM growth differential over developed markets should continue to widen.

 

“Many emerging market corporate debt issuers are linked to household names that tend to have a global footprint.”

Victoria Harling, Strategy Leader - EMCD
 

A stable of blue chip brands

Top 10 company holdings (%)
United States Treasury Bill 3.5
United States Treasury Note 3.5
Tencent Holdings Ltd 1.7
MAF Global Securities Ltd 1.5
GTH Finance 1.4
Lamar Funding Ltd 1.3
Embraer Netherlands Finance 1.3
Turk Telekomunikasyon 1.2
KOC Holding 1.3
Petkim Petrokimya Holding 1.1
Total 17.7

Source: Investec Asset Management, as at 30 June 2019. The portfolio may change significantly over a short period of time. Bond ratings are Investec approximations. This is not a buy or sell recommendation for any particular security. Figures may not always add up to 100 due to rounding.

 

Why Investec Asset Management for emerging market corporate debt?

  • We have dedicated corporate debt investment professionals within our Emerging Market Fixed Income team.
  • Our specialist Emerging Market Fixed Income team has a diverse and complementary skill set covering over 70 emerging countries worldwide.
  • Given our South African roots, we have over 28 years’ experience in emerging market investing giving us an excellent insight into what drives returns.
  • Total assets in emerging market fixed income of US$38 billion as at 30 June 2019.

 

Specific risks: Currency exchange: Changes in the relative values of different currencies may adversely affect the value of investments and any related income. Default: There is a risk that the issuers of fixed income investments (e.g. bonds) may not be able to meet interest payments nor repay the money they have borrowed. The worse the credit quality of the issuer, the greater the risk of default and therefore investment loss. Derivatives: The use of derivatives may increase overall risk by magnifying the effect of both gains and losses leading to large changes in value and potentially large financial loss. A counterparty to a derivative transaction may fail to meet its obligations which may also lead to a financial loss. Emerging market: These markets carry a higher risk of financial loss than more developed markets as they may have less developed legal, political, economic or other systems. Interest rate: The value of fixed income investments (e.g. bonds) tends to decrease when interest rates rise. Liquidity: There may be insufficient buyers or sellers of particular investments giving rise to delays in trading and being able to make settlements, and/or large fluctuations in value. This may lead to larger financial losses than might be anticipated.

Victoria Harling

Portfolio Manager

Read the profile

Important information

All information is as at 30 June 2019 unless otherwise stated.

Some of the funds displayed on this page may not be registered in your region and will therefore not be available for sale . Please visit www.investecassetmanagement.com/registrations to check registration by country.