Investment is chiefly made directly and indirectly in bonds issued by countries that are in a period of transition from developing countries to industrial nations, mainly in the areas Latin America, Asia, Eastern Europe and Africa. The bonds involve a certain credit risk. Investment is made primarily in bonds issued by or guaranteed by states. Investments will primarily be made in bonds denominated in USD. Investments may also be made in bonds denominated in local currencies in the emerging markets. Generally these investments will not be hedged to USD.
The fund may invest a maximum of 10% of its assets in units in other umbrella funds, individual funds and investment institutions.
The objective of the portfolio management is to generate a return over time which is at least in line with the market development - measured by a comparable benchmark return.
The fund may use derivative financial instruments.
JPM EMBI Global Diversified
The benchmark has applied since: 01.11.2005