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Détail d'un fonds

Funds Detail

BL Bond Emerging Markets Euro

Bond funds

Data as of 24/02/2021

Risk level

Recommended investment horizon : > 3 years


Performance as at 24/02/2021

2018-2,26 %
20192,03 %
2020-0,04 %


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 - 4th Quarter 2020

In the fourth quarter of 2020, government bonds issued by emerging market countries in euros gained nearly 4.48%, according to the universe used at BLI for the emerging sovereign debt market in euros (SEME)*. The yield spread narrowed by nearly 64 basis points to 212 basis points at the end of the quarter. After a relatively quiet month in October, the sudden appreciation at the beginning of November was largely attributable to Joe Biden's victory in the US election, despite the complex geopolitical climate. The announcement of a vaccine that is over 90% effective against the sars-cov-2 virus by the pharmaceutical giants had only a moderate impact on the asset class. The advent of a third wave of Covid-19 in some parts of the world and disappointing third quarter production data slowed the growth that had been underway in the asset class at the beginning of the month. Nevertheless, the start of the Covid-19 vaccination, heralding some form of economic recovery to come, seems to have been welcomed by the riskier markets. The African economies tend to do well when Asia Pacific underperforms. The Chinese economy is expected to rebound in the first quarter of 2021. With China accounting for the overwhelming proportion of Asian (EM) data, we can expect a clear improvement in the next quarter. Over the quarter, no fundamental change was made to the composition of BL EM Euro. Sovereign and corporate allocations continue to be the biggest segments in the portfolio, accounting for 55% and 32% respectively. At 31 December 2020, the average yield of the portfolio was 0.57% with a modified duration of 5.26. *(SEME: Sovereign Emerging Markets Euro)

General information

Net Asset Value 
Calculated Every business day
NAV class B capitalisation shares (24/02/2021)112,98 EUR
NAV class A distribution shares (24/02/2021)93,44 EUR
Latest dividend1,31 EUR
Date of last dividend payment  12/02/2021
CODESISIN capitalisation code : LU1008595214
ISIN distribution code : LU1008595057
WKN capitalisation code : A1XBE4
WKN distribution code : A1XBE3
Net assets (million)240,85 EUR
Launch date28/03/2014

Asset Publisher

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