BNY Mellon Emerging Markets Debt Local Currency Fund
As at 31 July 2010
Fund Profile
A new opportunity for alpha and diversification
Fund highlights:
- Managed by Standish Mellon Asset Management, one of the largest fixed-income asset management firms in the world
- Investors have the opportunity to benefit from the improving fundamentals and the value potential of emerging debt markets
- Following significant improvements in credit quality, liquidity, transparency and volatility, local currency emerging markets debt has produced attractive risk-adjusted returns over time
- The asset class has a low correlation to traditional dollar-denominated emerging market debt. The wide geographic spread of issuing countries allows for diversification within the fund
Investment objective
The investment objective of the Sub-Fund is to achieve a superior total return from a portfolio of bond and other debt instruments, including derivatives thereon, from emerging markets worldwide.
| Share Class Table | ||||
|---|---|---|---|---|
| USD A | EUR A | EUR I | EUR H | |
| Share Class Launch Date | 30 Nov 2007 | 26 Feb 2007 | 08 May 2008 | 08 May 2008 |
| Sedol | B11YFM4 | B11YFH9 | B2Q4XT9 | B294XP5 |
| ISIN | IE00B11YFM47 | IE00B11YFH93 | IE00B2Q4XT97 | IE00B2Q4XP59 |
| Bloomberg | MEDLCAU ID | MEDLCAE ID | MEDLCIE ID | MEDLCHE |
| Valoren | N.D. | N.D. | CH4239785 | CH4239814 |
| WKN | N.D. | A0MNYX | A0NG1H | AONG1D |
| Max Initial Charge | 5% | 5% | 5% | 5% |
| Annual Mgt Charge | 1.50% | 1.50% | 1.00% | 1.50% |
| Min Initial Investment | $ 5,000 | € 5,000 | € 5,000,000 | € 5,000 |
| Performance Fee | 0.00% | 0.00% | 0.00% | 0.00% |
General information
- Total net assets (million)
- $ 2,927.49
- Lipper sector
- UK Offshore - Fixed Interest Emerging Markets
- Index
- JPM GBI EM Global Diversified Index
- Fund domicile
- Dublin
- Fund type
- ICVC
- Fund manager
- Dedicated Team
- Base currency
- USD
- Currencies available
- EUR, USD, GBP
Key dates
- Fund launch
- 28 Apr 2006
- Close of financial year
- 31 Dec
BNY Mellon Asset Management Company
Standish Mellon Asset Management Company LLC: Standish is a specialist investment manager dedicated exclusively to active fixed income and credit solutions, with a particular strong emphasis on fundamental credit research.
Dealing
09:00 to 17:00 each business day
Valuation point: 12:00 Dublin time
Shareclass EUR A
- General
- Share class launch date
- 26 Feb 2007
- Minimum investment
- € 5,000
- Annual management charge
- 1.50%
- Maximum initial charge
- 5.00%
- Codes
- ISIN
- IE00B11YFH93
- Bloomberg
- MEDLCAE ID
- Sedol
- B11YFH9
- WKN
- A0MNYX
- Performance Fee
- 0.00%
- Registered for sale in:
- DE, NL, GUE, UK, FR, BE, JER, ES, GIB, AT, IRL, NO, CL, PE, CH
Shareclass EUR C
- General
- Share class launch date
- 15 May 2006
- Minimum investment
- € 5,000,000
- Annual management charge
- 1.00%
- Maximum initial charge
- 5.00%
- Codes
- ISIN
- IE00B11YFJ18
- Bloomberg
- MEDLCCE ID
- Sedol
- B11YFJ1
- Valoren
- CH2579873
- Performance Fee
- 0.00%
- Registered for sale in:
- DE, NL, GUE, UK, FR, BE, JER, ES, GIB, AT, IRL, NO, CL, PE, IT, CH, HK
Shareclass EUR C INC
- General
- Share class launch date
- 15 Mar 2010
- Minimum investment
- € 5,000,000
- Annual management charge
- 1.00%
- Maximum initial charge
- 5.00%
- Codes
- ISIN
- IE00B2Q4XQ66
- Bloomberg
- MEDLECI ID
- Sedol
- B2Q4XQ6
- Performance Fee
- 0.00%
- Registered for sale in:
- ST, FR, DE, GIB, GUE, IRL, NE, NO, PT, ES, CH
Shareclass EUR H
- General
- Share class launch date
- 08 May 2008
- Minimum investment
- € 5,000
- Annual management charge
- 1.50%
- Maximum initial charge
- 5.00%
- Codes
- ISIN
- IE00B2Q4XP59
- Bloomberg
- MEDLCHE
- Sedol
- B294XP5
- Valoren
- CH4239814
- WKN
- AONG1D
- Performance Fee
- 0.00%
- Registered for sale in:
- TE, ST, DA, TA, PLE, ASE, ED, IT
Shareclass EUR I
- General
- Share class launch date
- 08 May 2008
- Minimum investment
- € 5,000,000
- Annual management charge
- 1.00%
- Maximum initial charge
- 5.00%
- Codes
- ISIN
- IE00B2Q4XT97
- Bloomberg
- MEDLCIE ID
- Sedol
- B2Q4XT9
- Valoren
- CH4239785
- WKN
- A0NG1H
- Performance Fee
- 0.00%
- Registered for sale in:
- IRL, FR, DE, GIB, GUE, JER, NL, NO, ES, CH, UK
Shareclass USD A
- General
- Share class launch date
- 30 Nov 2007
- Minimum investment
- $ 5,000
- Annual management charge
- 1.50%
- Maximum initial charge
- 5.00%
- Codes
- ISIN
- IE00B11YFM47
- Bloomberg
- MEDLCAU ID
- Sedol
- B11YFM4
- Performance Fee
- 0.00%
- Registered for sale in:
- IRL, CL, FR, DE, GIB, GUE, HK, JER, NL, NO, PE, SNG, ES, CH, UK
Shareclass USD C
- General
- Share class launch date
- 15 May 2006
- Minimum investment
- $ 5,000,000
- Annual management charge
- 1.00%
- Maximum initial charge
- 5.00%
- Codes
- ISIN
- IE00B11YFN53
- Bloomberg
- MEDLCCU ID
- Sedol
- B11YFN5
- Valoren
- CH2579869
- Registered for sale in:
- CH, DE, IRL, GUE, HK, UK, FR, IT, JER, GIB, ES, NL, NO
Shareclass USD X
- General
- Share class launch date
- 28 Apr 2006
- Minimum investment
- £ None
- Annual management charge
- 0.00%
- Maximum initial charge
- 0.00%
- Codes
- ISIN
- IE00B11YFQ84
- Bloomberg
- MEDLCXU ID
- Sedol
- B11YFQ8
- Valoren
- 2555981
- Registered for sale in:
- DE, IRL, GUE, UK, FR, JER, GIB, ES, NL, NO
Fund Specific Important Information
As of 1 July 2008, the reference index for the fund changed to the JPMorgan GBI-EM Global Diversified from the JPMorgan GBI-EM Broad Diversified. Prior to July 1 2008, reference index returns represent those of the JPMorgan GBI-EM Broad Diversified. From July 1 2008, reference index returns represent those of the JPMorgan GBI-EM Global Diversified.
| Performance record since launch | ||||||||
|---|---|---|---|---|---|---|---|---|
|
Source: Lipper as at 31 July 2010. Total Return, including annual charges but excluding initial charges, income reinvested gross of tax. Performance history is given in Fund - USD C share class currency. |
||||||||
|
|
|||||||
| Performanceto | Annualised | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 month | 3 months | 6 months | YTD | 1 year | 3 years | 5 years | 3 years | 5 years | |||
|
Source: Lipper as at 31 July 2010. Total Return, including annual charges but excluding initial charges, income reinvested gross of tax. Performance history is given in share class currency. |
|||||||||||
| Fund - USD C share class | 4.61 | 0.46 | 8.08 | 8.79 | 16.11 | 24.69 | – | 7.63 | – | ||
| Fund - USD A share class | 4.57 | 0.35 | 7.83 | 8.51 | 15.51 | – | – | – | – | ||
| JPM GBI EM Global Diversified Index | 5.52 | 1.83 | 8.79 | 9.07 | 16.49 | 34.07 | – | 10.27 | – | ||
| Fund - EUR A share class | -1.17 | 2.71 | 15.78 | 20.12 | 25.53 | 29.34 | – | 8.96 | – | ||
| Fund - EUR C share class | -1.14 | 2.86 | 16.11 | 20.50 | 26.26 | 31.40 | – | 9.53 | – | ||
| Fund - EUR H share class | 4.15 | -0.41 | 7.02 | 7.61 | 13.87 | – | – | – | – | ||
| Fund - EUR I share class | 4.15 | 0.27 | 7.75 | 8.36 | 15.87 | – | – | – | – | ||
| JPM GBI EM Global Diversified Index | -0.79 | 3.93 | 16.07 | 20.12 | 26.76 | 40.87 | – | 12.10 | – | ||
Statutory performance data updated quarterly
| From | 30 Jun 09 | 30 Jun 08 | 29 Jun 07 | 30 Jun 06 | 30 Jun 05 |
|---|---|---|---|---|---|
| To | 30 Jun 10 | 30 Jun 09 | 30 Jun 08 | 29 Jun 07 | 30 Jun 06 |
|
Source: Lipper as at 31 July 2010. Total Return, including annual charges but excluding initial charges, income reinvested gross of tax. Performance history is given in Fund - USD C share class currency. |
|||||
| Fund | 16.1% | -3.0% | 6.5% | 28.9% | – |
Calendar Performance
| 2009 | 2008 | 2007 | 2006 | 2005 | |
|---|---|---|---|---|---|
|
Source: Lipper as at 31 July 2010. Total Return, including annual charges but excluding initial charges, income reinvested gross of tax. Performance history is given in Fund - USD C share class currency. |
|||||
| Fund | 23.12 | -12.58 | 19.93 | - | - |
| Index | 21.98 | -5.50 | 16.08 | - | - |
Holdings and Risk
Historical fund statistics - 3 years
- Jensen alpha
- -0.24
- Beta
- 1.06
- Correlation to benchmark
- 0.98
- Annualised information ratio
- -0.95
- Annualised Sharpe ratio
- 0.31
- Annualised tracking error
- 2.53
- R²
- 0.98