Language And Country


16 Boulevard Royal – L-2449 Luxembourg
Monday to Friday
8 am to 5 pm

Détail d'un fonds

Funds Detail

BL Bond Emerging Markets Dollar

Bond funds

Data as of 24/02/2021

Risk level

Recommended investment horizon : > 3 years


Average annual performance since launch 2,84 %

Performance as at 24/02/2021

2018-2,80 %
20198,46 %
20205,09 %
Since 01/01/2021-1,68 %
Over the last 12 months1,52 %
Over 3 years10,80 %
Since launch15,93 %


Investment objective and policy

The fund invests in sovereign, quasi-sovereign and parastatal bonds of emerging countries. It also invests in bonds of industrialised countries and, to a lesser extent, in corporate bonds issued in emerging markets and industrialised countries. The fund is denominated in USD; investments are mainly in USD and 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 dollars gained nearly 6.41%, according to the universe used at BLI for the emerging sovereign debt market in dollars (SEMD)*. The yield spread narrowed by nearly 100 basis points to 312 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. BL EM Dollar has been repositioned to uphold its sustainability. To do this, as well as adding green bonds, some issuers such as Jamaica have returned to the sovereign allocation while others such as Guatemala have had their positions reduced. At 31 December 2020, the average yield of the portfolio was 1.66% with a modified duration of 5.43. *(SEMD: Sovereign Emerging Markets Dollar)

General information

Net Asset Value 
Calculated Every business day
NAV class B capitalisation shares (24/02/2021)115,81 USD
NAV class A distribution shares (24/02/2021)92,57 USD
Latest dividend3,01 USD
Date of last dividend payment  12/02/2021
CODESISIN capitalisation code : LU1305479401
ISIN distribution code : LU1305479310
WKN capitalisation code : A1421D
WKN distribution code : A1421C
Net assets (million)54,26 USD
Launch date13/11/2015

Asset Publisher

Page détail fonds - Retour au tableau