Cocoa boost for Ghana and Côte d’Ivoire
Jacob and Leo consider what the huge upsurge in cocoa prices could mean for the economies and bonds of the top two global cocoa-producing countries of Cote d’Ivoire and Ghana.
Emerging Markets Bond Fund
Important information.
Important information
Why invest in Emerging Markets (EM) bonds?
A large and diversified (US $3.5 trillion [1]) asset class
A large universe with low correlation to other asset classes. EM bonds provide investors with a suitable portfolio diversifier.
EM accounts for 60% of global GDP[2]
Emerging Markets growth (4.2%) is forecasted to be more than double of Developed Markets (1.4%) growth in 2024.[3]
Attractive valuation, compelling EM bonds yield of 8.5% [6]
EM bonds yields are at 10-year highs and significantly above their 20-year average while global bonds yield is only 3.9% [4,7].
Attractive income profile of average distribution yield 5.75% [8]
Providing investors with a steady distribution and scope for meaningful capital gains.
Outstanding total performance
Top quartile performance since inception, year-to date, on a 1-month, 3-month, 6-month, and 1-year [9].
Dynamic asset allocation
Can invest outside of the benchmark in local currency and corporate debt
Fund information
Key documents
[1] Source: J.P. Morgan, November 2023.
[2] Source: The International Monetary Fund (IMF), World Economic Outlook, October 2023.
[3] Source: IMF, 30 June 2023. Forecasts are not a reliable indicator of future results and there can be no guarantee that these will be achieved.
[4,5] Source: abrdn, 30 November 2023.
[6] Source: JPM EMBI Global Diversified Index, 30 November 2023.
[7] Source: JPM Global Bond Index, 30 November 2023.
[8] Source: abrdn, 31 December 2023. Distribution yield is annualised per month over the last 12 months. Based on Class A MInc USD. Aim at monthly distribution. Dividend rate is not guaranteed. Dividend may be paid out of capital. Please refer to Important Information 4. A positive yield does not imply a positive return of the Fund.
[9] Source: Lipper, Morningstar, 30 November 2023. A MInc USD class.
[2] Source: The International Monetary Fund (IMF), World Economic Outlook, October 2023.
[3] Source: IMF, 30 June 2023. Forecasts are not a reliable indicator of future results and there can be no guarantee that these will be achieved.
[4,5] Source: abrdn, 30 November 2023.
[6] Source: JPM EMBI Global Diversified Index, 30 November 2023.
[7] Source: JPM Global Bond Index, 30 November 2023.
[8] Source: abrdn, 31 December 2023. Distribution yield is annualised per month over the last 12 months. Based on Class A MInc USD. Aim at monthly distribution. Dividend rate is not guaranteed. Dividend may be paid out of capital. Please refer to Important Information 4. A positive yield does not imply a positive return of the Fund.
[9] Source: Lipper, Morningstar, 30 November 2023. A MInc USD class.