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UBAM - EM Responsible Sovereign Bond IC USD

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Performance

UBAM - EM Responsible Sovereign Bond IC USD
NAV - Net Asset Value
Date
Data source : UBP SA
Historical performance MTD YTD 1 year 3 years 5 years ITD
Historical performance -0.13% 1.70% 14.23% -1.10% 1.76% 1.44%
12 months rolling 04.23 - 04.24        
12 months rolling 14.23%

Disclaimer
Past performance is not indicative of present and/or future results. The performance figures shown include gross dividends reinvested, current charges but do not include subscription/redemption fees and taxes payable by the investor. For retail, performance data for sub-funds with less than a 12 month performance record is not displayed. For professional, performance under 1 year is shown cumulated and performance over 1 year is shown annualised. For sub-funds denominated in a currency other than that of the fund, the return may be reduced or increased according to exchange rate fluctuations. The value of investments may increase or decrease and investors may not get back all or part of the amount invested. Data source: UBP SA

Library

LEGAL DOCUMENT
Title Updated English German French Italian
Annual report 31.12.2022 PDF
KID PRIIPs 26.02.2024 PDF
Prospectus 30.12.2022 PDF
Semi-annual report 30.06.2023 PDF
Shareholders letter 26.01.2024 PDF PDF PDF PDF
Status - Articles of Association 06.04.2023 PDF
MARKETING DOCUMENTATION
Title Updated English German French Italian
Factsheets 29.02.2024 PDF
Monthly Report 31.03.2024 PDF
Product card 31.12.2021 PDF PDF PDF PDF
Quarterly comment 31.12.2023 PDF

Registration

ATAustria
BEBelgium
CHSwitzerland
DEGermany
DKDenmark
ESSpain
FIFinland
FRFrance
GBUnited Kingdom
IEIreland
ILIsrael
ISIceland
ITItaly
KRSouth Korea
LULuxembourg
NLNetherlands
NONorway
PTPortugal
SESweden
SGSingapore
TWTaiwan
ZASouth Africa
ATAustria
BEBelgium
CHSwitzerland
DEGermany
DKDenmark
ESSpain
FIFinland
FRFrance
GBUnited Kingdom
IEIreland
ILIsrael
ISIceland
ITItaly
KRSouth Korea
LULuxembourg
NLNetherlands
NONorway
PTPortugal
SESweden
SGSingapore
TWTaiwan
ZASouth Africa

Italy: I shares are only notified to the CONSOB.

Singapore: Sub-funds registered with the MAS (Monetary Authority of Singapore) can only be offered to “accredited investors”.


Fiscal information

Titre Statut
End of fiscal year 31 December
UK RFS Yes Reportable Income
German transparency Yes Investor Report
Austrian transparency Yes
Italian reporting Yes
Switzerland RNI Yes

Sustainability-related disclosure

This Sub-Fund aims to deliver performance by investing in bonds issued primarily by emerging market (EM) sovereign and supranational issuers in a manner consistent with the principles of environmental, social and governance (“ESG”) focused investing.

The Sub-Fund promotes environmental (E) and social (S) characteristics but does not have as its objective sustainable investment. However, it will have a minimum proportion of 5% of sustainable investments.

These Sustainable Investments contribute to a range of environmental and / or social objectives which may include but are not limited to, alternative and renewable energy, energy efficiency, pollution prevention or mitigation, reuse and recycling, health, nutrition, sanitation and education and the UN Sustainable Development Goals (“Environmental and Social Objectives”).

To ensure that the Sustainable Investments that this Sub-Fund intends to make do no cause significant harm, the Investment Manager assesses whether the issuers of these bonds do no harm through an internally designed methodology which covers principal adverse impact, controversies and overall ESG/governance quality.

This Sub-Fund aims to have better environmental and social characteristics than the Emerging Market (EM) sovereign bond universe. For that purpose, the Investment Manager use the JP Morgan JESG scores which assesses the ESG quality of each issuer based on a number of E and S quantitative indicators.

The E and S charactersitics include:

  • Enhancing exposure to investments that are deemed to have associated positive externalities, compared to the Sub-Fund’s ESG Reporting Benchmark while limiting investments that are deemed to have associated negative externalities
  • Exclude issuers with a JESG score below 20 and comply with the Investment Manager’s exclusion criteria applicable to Article 8 funds as described in UBP’s Responsible Investment Policy

This Sub-Fund investment strategy relies on ESG, credit and macroeconomic assessments in order to combine a financial risk-adjusted performance in line or above that of the EM sovereign bond market over the investment horizon.

The investment process includes ESG analysis which combines internal and external research conducted by a variety of ESG data providers including, but not limited to, JP Morgan, MSCI ESG Research, RepRisk as well as recognized organizations like the World Bank. In particular, the Investment Manager has developed a proprietary ESG sovereign integration strategy, which aims to identify how non-economic factors impact asset performance, focusing on a country's ESG credentials and its ability to handle sustainability risks and opportunities.

Negative screening leads to the exclusion of issuers with the worst ESG performance.

The Investment Manager takes into consideration and seeks to minimize the following potential principal adverse impacts of its investments: 1) GHG intensity of investee companies 2) Companies in breach of UN Global Compact principles and Organisation for Economic Cooperation and Development (OECD) Guidelines for Multinational Enterprises 3) Companies exposed to Controversial Weapons and 4) Investee countries subject to social violations.

ESG analysis, combining both internal and external ESG research, covers at least 80% of the Sub-Fund's invested portfolio.

This Sub-Fund will invest at least 51% of its assets in securities issued by governments and government agencies of emerging markets within the J.P. Morgan ESG EMBI Diversified Index. A minimum of 51% of the Sub-Fund’s net assests invested will be aligned with the environmental and social characteristics of the fund, including at least 5% invested in a mix of environmentally and/or socially sustainable investments, depending on investment opportunities.

The binding criteria used to attain each of the environmental and/or social characteristics promoted by the Sub-Fund are integrated in control systems, to ensure pre- and post trade checks. Compliance is monitored by the Risk department on an ongoing basis.

The Investment Manager may use data reported directly by issuers, sourced from recognised organisations like the World Bank or from third-party data providers such as JP Morgan, MSCI ESG Research or Sustainalytics. The service and data quality provided by third-party ESG data providers are reviewed regularly.

Depending on the metric considered, some data may be estimated by data providers. Although the Investment Manager applies a thorough selection process of third-party providers, their processes and proprietary ESG methodology may be flawed. As a result, there is a risk of incorrectly assessing an issuer, resulting in an inappropriate capture of ESG risks and potential incorrect inclusion or exclusion in the product. This is expected to have limited impact on the overall environmental and/or social characteristics promoted by the product.

The investment due diligence process ensures that the investment decisions comply with the objectives and the investment strategy of the Sub-Fund. The consideration of sustainability-related risks is integrated into the investment decision-making process to ensure better-informed investment decisions as well as awareness of the risk exposure. The first level of due diligence is conducted by the Investment Manager, while the second level is conducted by the Risk department.

Engagement with investee issuers may occur. It can be conducted collaboratively as well as, on an ad-hoc basis, directly by the Investment Manager, as part of its overall ESG assessment.

No reference benchmark has been designated for the purpose of attaining the environmental or social characteristics promoted by this Sub-Fund.

For more information, please see the fund’s Sustainability-related disclosures.

  • ISIN code
  • LU1668154799
  • Data as at
  • 12.04.2024
  • Latest NAV
  • 109.89 USD
  • Fund's AUM
  • 40.88M USD

Fund data

  • Fund name UBAM
  • Legal structure SICAV
  • Jurisdiction Luxembourg

Sub-fund data

  • Base currency USD
  • Asset class Fixed Income
  • Geographical bias Emerging Markets
  • Inception date 31.08.2017
  • SFDR classification 8

Share class data

  • Description IC USD
  • Launch date 31.08.2017
  • Dividend type Capitalisation
  • Minimun initial investment None
  • Subscription Daily
  • Redemption Daily
  • Management fee 0.40%
  • Performance fee No
  • Performance fee rate N/A
  • Last dividend N/A

Identifiers

  • Bloomberg UEMSIUC LX
  • Telekurs 37811663
  • Reuters N/A
  • WKN A2JKA8
  • SEDOL N/A
  • Morningstar N/A
  • Financial Express -

Manager(s)

    Sergio Trigo Paz / Raphaël Marechal