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Détail d'un fonds

Funds Detail

BL Bond Emerging Markets Euro

Bond funds

Data as of 10/06/2021

Risk level

Recommended investment horizon : > 3 years


Performance as at 10/06/2021

2018-2,26 %
20192,03 %
2020-0,04 %
Asset breakdown
Bonds89,22 %
Cash10,78 %
Breakdown by currency
EUR98,10 %
USD1,90 %
Main positions
Peru 2016 3.75% 01-03-20302,46 %
Bulgaria Series 5 2016 3% 21-03-20282,44 %
Peru 2015 2.75% 30-01-20262,28 %
Corporacion Nacional Del Cobre De Chile 2014 2.25% 09-07-20242,22 %
Philippines 2019 .875% 17-05-20272,08 %


Investment objective and policy

The fund invests in bonds (sovereign/quasisovereign/parastatal) of emerging market countries. It also invests in bonds of industrialised countries (issued in emerging market currencies)and to a lesser extent in corporate bonds (of emerging market and industrialised countries). The fund is denominated in euros; the fund's investments are principally in euros and US dollars as well as local currencies. The fund's objective is to generate regular income.

Management report - 1st Quarter 2021

Emerging market debt denominated in euros declined by 1.48% in the first quarter according to BLI Sovereign Emerging Markets Euro, the reference basket for emerging market debt. The sovereign yield spread on this basket widened from 238 to almost 260 basis points. This correction in emerging market debt is explained by the rise in yields in developed countries in the context of a recovery in US activity, as emerging market countries are expected to benefit from the US stimulus plan and its impact on US GDP and that of its main trading partners. Nevertheless, some risks remain, notably the continuation of the pandemic due to the emergence of new variants in some countries and also the rise in US interest rates which will have an impact on the currencies of these countries. In addition, a change in the Federal Reserve's quantitative easing policy at the end of the year could weigh on the asset class. However, the impending reopening of borders and revival of world trade should play in favour of the dynamism of emerging market countries. Various indicators are now pointing to the recovery of activity in emerging market countries, including the Markit Composite PMI index, which stood at 52 in February. BL Bond Emerging Markets Euro posted performance of -1.24% over the quarter. It has an average yield of 0.82% for a modified duration of 5.23.

General information

Net Asset Value 
Calculated Every business day
NAV class B capitalisation shares (10/06/2021)112,32 EUR
NAV class A distribution shares (20/05/2021)111,85 EUR
CODESISIN capitalisation code : LU1008595214
ISIN distribution code : LU1008595057
WKN capitalisation code : A1XBE4
WKN distribution code : A1XBE3
Net assets (million)243,44 EUR
Launch date28/03/2014

Détail fonds - disclaimer

Before making any decision to subscribe, customers must ensure they have understood the product, having measured the risks associated with it and consulted their own advisers on the appropriateness of the product for their particular financial situation, taking into account legal, tax and accounting aspects. This fact sheet has been drawn up for information purposes and shall in no event be considered a solicitation to buy or an offer to sell securities or other financial instruments. Information provided to the interested party does not constitute legal or fiscal advice and the Bank shall not be held liable for such information. The securities referred to in this document may cause the investor to incur significant risk and may not be appropriate for all investors. Such risks include market risks, high volatility, credit risk, liquidity risk and interest-rate risk. There is no guarantee that the securities described in this document will achieve their investment objectives. Past performance is no indication of future returns. The Bank shall not be held liable for the future performance of these securities. Potential investors must ensure that they understand the risks of investing in such products and should only take an investment decision after giving careful consideration, together with their professional advisers, to the appropriateness of this investment to their specific financial situation, particularly with regard to legal, tax and accounting aspects. We have made every effort to verify that the information presented in this document is correct, in particular the estimated values, opinions and other estimates. Nevertheless, no guarantee can be given as to the validity, timeliness, completeness, correctness or accuracy of the information, which is provided for guidance only. Information may be subject to change without prior notice.

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