Accept cookies from BankInvest.com

BankInvest use cookies to collect information about your visit to our website. The information is only being used to support the functionality of the website and to compile statistics. You can always delete cookies from BankInvest.com again.
Read more about cookies on BankInvest.com

BI SICAV - Emerging Markets Corporate Debt R

The sub-fund invests at least two thirds of its assets in corporate debt of emerging markets debt issuers in Latin America, Central- or Eastern Europe, Africa, the Middle East and Asia exclusive Japan. The sub-fund can also invest in securities issued by sovereign issuers or the local authorities as well as financial and corporate issuers that have the majority of their activities in an emerging market country. The bonds of this sub-fund are required to have a credit rating of minimum CC. However, 20 percent of the sub-fund assets can be invested in bonds without any credit rating and 5 percent can be invested in downgraded bonds with a credit rating below CC. Financial derivative instruments may be used for hedging purposes and as part of the investment strategy.

Portfolio Managers:
Chresten Hagelund, Senior Portfolio Manager (left)
Søren Bertelsen, Chief Portfolio Manager (right)

 

Generate Product Sheet

Basic Information

  • ISIN LU0304976276
  • Fund BI SICAV
  • Inception Date 11.07.2007
  • Investment Manager BI Asset Management Fondsmæglerselskab A/S
  • Investment Universe Fixed Income
  • Exchange Status Quoted
  • Latest Share Class NAV 163.45 EUR
  • Share Class Currency EUR
  • Sub-fund Size (m EUR) 187
  • Number of shares in Share Class 2,209

Risk and reward profile

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
Low risk
Lower rewards
High risk
Higher rewards

Return

Year Performance and Dividend (%)
2017 2016 2015 2014 2013
Fund 5.84 7.94 0.31 4.86 -2.02
Benchmark 5.96 7.96 0.79 4.72 -0.84
Dividend
Return Period (%)
(Updated: 06.20.2018)
1 month YTD 1 yr 3 yrs 5 yrs
-0.81 -4.80 -3.26 1.84 3.04
-0.53 -4.27 -2.69 2.13 3.45
All returns 1-10 years are annualized. Return is calculated in EUR.

Benchmark

JP Morgan CEMBI Broad Diversified hedged to EUR. Before 31/12/2008 50% Merrill Lynch Global Emerging Markets Sovereign Plus and 50% Merrill Lynch Global Emerging Markets Corporate Plus. The index is EUR/USD hedged and is reweighted ultimo each year

Country allocation

(Updated: 05.31.2018)
Expand

Sectoral allocation

(Updated: 05.31.2018)
Expand

The largest investments in the portfolio

(Updated: 05.31.2018)
Name Sector Weight
4.6% Abu Dhabi Crude Oil Pipeline LLC 11/2047 2.61%
3.95% Shenzhen International Holdings PerpNC/2022 1.63%
4.125% Proven Honour Capital Ltd 05/2026 1.56%
5.99% 1MDB Energy Ltd 05/2022 1.40%
4% Tengizchevroil Finance Co International 08/2026 1.38%
5.5% Industrial Senior Trust 11/2022 1.35%
4.875% Samvardhana Motherson Automotive Sy 12/2021 1.27%
2.8% Teva Pharmaceutical Finance Netherlan 07/2023 1.26%
4% Oversea-Chinese Banking 10/2024 C19 1.16%
5.375% Natura Cosmeticos SA 02/2023 1.10%
4.875% Royal Capital BV PerpNC 05/2024 1.09%
4.25 % Parkway Pantai PerpNC07/2022 1.09%
5.875% Mersin 2020 1.08%
4.75% BRF SA 05/2024 1.08%
6.25% FirstRand Bank Ltd 04/2028 1.07%
4.125% Banco General SA 08/2027 1.07%
5.125% Sberbank of Russia Via SB Capital S 10/2022 1.06%
5.75% National Bank of Kuwait Perp/NC 2021 1.05%
6.8750% Israel Electric 06/2023 1.05%
4.56% Empresa Electrica Guacolda SA 04/2025 1.05%
6.125% Lukoil International Finance BV 11/2020 1.02%
7.5% Oil and Gas Holding Co BSCC/The 10/2027 1.02%
8.125% Banco Regional SAECA 01/2019 0.97%
4% Franshion Brilliant Ltd PerpNC/2023 0.97%
6.067% Nakilat Inc 12/2033 0.97%
4.25% Transportadora de Gas del Peru SA 2023/2028 0.94%
7.5% Standard Chartered Plc PerpNC 04/2022 0.94%
5.2% Krung Thai Bank PCL/Cayman Islands 12/2024 0.94%
4.5% Sasol Financing International Ltd 11/2022 0.93%
5.375% VM Holding SA 05/2027 0.92%
6% BGEO Group JSC 07/2023 0.92%
4.125% Sigma Alimentos SA de CV 05/2026 0.91%
5.125% Akbank Turk AS 03/2025 0.91%
5.5% Mexico Generadora 12/2032 0.89%
5.75% Suzano Austria GmbH 07/2026 0.89%
4.25% Batelco International Finance No 1 L 05/2020 0.88%
5.299% Petrobras Global Finance BV 01/2025 0.87%
4% CK Hutchison Capital Sec. PerpNC 12/2022 0.87%
6.375% JSC Georgia Capital 03/2024 0.87%
3.75% United Overseas Bank Ltd 9/2024 c19 0.86%
6.75% Telecel del Paraguay 2017/2022 0.86%
8.125% Global Liman Isletmeleri 11/2021 0.85%
5.25% KOC Holding AS 03/2023 0.85%
4.6% LSD Bonds 2017 Ltd 09/2022 0.83%
10.875% Provincia de Buenos Aires 01/2021 0.81%
6.875% Aeropuertos Argentina 2000 SA 02/2027 0.76%
4.5% Tupras Turkiye Petrol Rafinerileri AS 10/2024 0.76%
4.5% Emirates Airlines 2028 0.76%
6.125% Stillwater Mining Co 06/2022 0.76%
6.15% Perusahaan Listrik Negara PT 05/2048 0.75%
7.25% Votorantim Cimentos SA 04/2041 0.75%
2.88% United Overseas Bank 03/2027 C22 0.74%
7.75% United Bank for Africa PLC 06/2022 0.74%
4.125% African Export-Import Bank 06/2024 0.74%
3.6% DBS Group Holdings Ltd PerpNC/2021 0.73%
8.75% DNO ASA 05/2023 0.73%
6% Gazprom Neft OAO Via GPN Capital SA 11/2023 0.73%
4.875% Gruma 12/2024 0.72%
4% Adani Transmission Ltd 08/2026 0.72%
4.25% Hikma Pharmaceuticals PLC 04/2020 0.72%
6.25% Barclays Africa Group Ltd 04/2028 0.72%
6.375 MAF Perp NC2024 0.71%
3.875% JD.com Inc 04/2026 0.69%
4.875% SUAM Finance BV 04/2024 0.69%
5% ICD Sukuk Co Ltd 02/2027 0.68%
6.375% Indo Energy Finance II BV 01/2023 0.68%
Qatar Reinsurance Co Ltd 0.66%
6.875% Abengoa Transmision Sur SA 04/2043 0.66%
8.25% Inversiones Atlantida SA 07/2022 0.63%
6.375% Fermaca Enterprises S de RL de CV 03/2038 0.63%
7.1250% Cementos Progreso SA 11/2023 0.63%
5.838% Ras Laffan LNG 3 2027 0.63%
4.7% Polyus Finance PLC 01/2024 0.61%
3.15% Teva Pharmaceutical Finance Netherla 10/2026 0.59%
6.875% First Quantum Minerals 2026 0.59%
6.125% Sberbank of Russia 02/2022 0.58%
5.375% Eastern and Southern African Trade 03/2022 0.58%
9.25% Access Bank PLC 06/2021 0.57%
6.75% Banco Macro SA 11/2026 0.57%
9.875% Ukraine Railways 2021 0.57%
7% Cosan Luxembourg SA 01/2027 0.56%
9% Golden Energy & Resources Ltd 02/2023 0.56%
4.95% Autoridad del Canal de Panama 07/2035 0.56%
9.375% NagaCorp Ltd 05/2021 0.55%
7.75% AES Argentina Generacion SA 02/2024 0.55%
6.375% China Overseas 10/2043 0.55%
9.25% Seplat 2023 0.55%
7.25% Petra Diamonds US Treasury PLC 05/2022 0.54%
5.5% Japfa Comfeed Indonesia Tbk PT 03/2022 0.54%
4.75% Lukoil 2026 0.54%
FRN Huaneng Hong Kong PerpNC 09/2022 0.54%
5.5% Global Prime Capital Pte Ltd 10/2023 0.54%
4.375% BPRL International Singapore Pte Lt 01/2027 0.53%
2.95% BDO Unibank Inc 03/2023 0.52%
9.5% Ihs Netherlands Holdco BV 10/2021 0.51%
4.375% SURA Asset Management SA 04/2027 0.50%
6% Ruwais Power Co PJSC 08/2036 0.50%
6.875% Marfrig Holding Europe BV 06/2019 0.50%
5.875% Mexichem SAB de CV 09/2044 0.50%
5.625% Oztel Holdings SPC Ltd 10/2023 0.50%
7.95% AES Andres BV / Dominican Power Part 05/2026 0.48%
5.375% Turkiye Is Bankasi 10/2021 0.47%
6% Guaranty Trust Bank 2018 0.46%
5.5% Fibria Overseas Finance Ltd 01/2027 0.46%
8.75% Petrobras Global Finance BV 05/2026 0.45%
8.5% Metinvest BV 04/2026 0.45%
4.866% Standard Chartered PLC 03/2033 0.45%
8.5% YPF SA 07/2025 0.45%
4.625% ICD Funding Ltd 05/2024 0.44%
4.875% Greenko Dutch BV 07/2022 0.44%
4.625% Minejesa Capital BV 08/2030 0.43%
5% Turkiye Is Bankasi 06/2021 0.39%
6.125% Vedanta Resources PLC 08/2024 0.39%
5.25% Turkiye Garanti Bankasi AS 09/2022 0.39%
6.125% Itau PerpNC 12/2022 0.39%
5.125% Millicom International Cellular SA 01/2028 0.38%
6% Turkiye Is Bankasi 10/2022 0.38%
7.75% Standard Chartered Plc Perp c04/2023 0.38%
4.5% FPC First Pacific 04/2023 0.38%
7.375% Petrobras 01/2027 0.38%
7.1% GCL New Energy Holdings Ltd 01/2021 0.37%
6.25% Zenith Bank 04/2019 0.37%
7.75% MHP SA 05/2024 0.37%
6.75% Transportadora de Gas del Sur SA 05/2025 0.35%
2.75% Beijing Gas Singapore Capital Corp 05/2022 0.35%
5.875% Indika Energy Capital III Pte Ltd 11/2024 0.34%
5.65% Itau Unibanco Holding SA/Cayman Isla 03/2022 0.32%
6.95% MHP Lux SA 04/2026 0.31%
8% Marfrig Holdings Europe BV 06/2023 0.29%
7.75% Metinvest BV 04/2023 0.29%
6.625% Oztel Holdings SPC Ltd 04/2028 0.27%
5.125% Itau Unibanco Holding SA/Cayman Isl 05/2023 0.27%
6.267% Nakilat Inc 12/2033 0.27%
6.75% Mexichem SAB de CV 09/2042 0.26%
7.25% JBS Investments GmbH 04/2024 0.25%
7.375% Zenith Bank PLC 05/2022 0.25%
5.625% Minejesa Capital BV 08/2037 0.24%
4.95% ENA Norte Trust 04/2023 0.24%
3.875% Well Hope Development PerpNC 10/2022 0.23%
4.563% Lukoil International Finance BV 04/2023 0.23%
8.375% Helios Towers Finance B 07/2019 0.23%
5.25% Greenko Dutch BV 07/2024 0.22%
7.75% JBS Investments GmbH 10/2020 0.19%
8.75% DNO 2020 0.19%
7% Marfrig Holdings Europe BV 03/2024 0.18%
4.1% Teva Pharmaceutical Finance Netherlan 10/2046 0.18%
6.5% Itau Perp NC2023 0.13%
11% Davomas 12/2014 0.00%
Expand

Risk 5 Years

(Updated: 05.31.2018)
Risk Fund Benchmark
Standard Deviation (%) 4.70 4.15
Sharpe Ratio 0.55
Information Ratio -0.37
Tracking Error (%) 1.05

Risk

Standard Deviation measures the variation of returns over a period of time. If the returns in average are close to the expected return, the Standard Deviation is low. If the returns in average are far from the mean, it is high. Typically bond funds have a lower Standard Deviation than equity funds.

Sharpe Ratio expresses how much a return on investment has generated compared to the historical risk. The figure is being used as a comparative figure to rank different risk-adjusted returns on investment. The higher the Sharpe Ratio, the better risk-adjusted returns on investment.

Information Ratio expresses how much outperformance a fund has generated in relation to the risk that has been relative to the benchmark. Information Ratio indicates the quality of the risk-adjusted to outperformance of a fund. The higher the Information Ratio, the better risk-adjusted performance on investment.

Tracking Error expresses the variation in the difference between the returns of the fund and the corresponding benchmark. Tracking Error is an expression of the Standard Deviation of the excess return. A low Tracking Error is equal to low volatility of the monthly performance, and a high Tracking Error is equal to high fluctuations.

Please note that there are no risk key figures for funds that are less than three years old.


Related News

Page of

Publications

Name Quarterly Investor Letter Key Investor Information Prospectus (EN) Prospectus (DE) Annual Report Product Sheet

Generate Product Sheet

Last updated: 06.20.2018