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Stocks and Shares ISAObjective
The Share Class is a share class of a Fund, which aims to achieve a return on your investment, through a combination of capital growth and income on the Fund’s assets, which reflects the return of the J.P. Morgan CEMBI Broad Diversified Core Index, the Fund’s benchmark index (Index). The Share Class, via the Fund, aims to invest so far as possible and practicable in the fixed income (FI) securities (such as bonds) that make up the Index. These may include securities with a relatively low credit rating or which are unrated. The Index measures the total return performance of U.S. Dollar denominated debt issued by companies in emerging market countries. The Index currently includes bonds issued by companies in Latin America, Eastern Europe, the Middle East, Africa, and Asia (excluding Japan). There are currently no minimum rating requirements or rating restrictions on either the corporate bonds or the country of issuance. To be eligible for inclusion in the Index, issuers must meet one of the following criteria: (1) the issuers are headquartered in an emerging market country, or (2) 100% of the issuers’ operating assets are located within emerging markets economies, or (3) the issuers’ assets are 100% guaranteed by an entity located within an emerging market economy. Only those instruments with at least five years until maturity (i.e. the time until they become due for repayment) and with a current amount outstanding of US$500 million or more are considered for inclusion in the Index. Securities which have the amount of coupon (i.e. interest) or redemption payment linked to a currency exchange rate are not eligible for inclusion. These may include the strategic selection of certain securities that make up the Index or other FI securities which provide similar performance to certain constituent securities.
- Leverage -
- Currency hedgingNo