USD
EUR
Fund PNB EM High Yield Bond Fund. Cost of a share today:
Data are updated each business day after 11:00 am

$ 1077.6303

Value increase of the fund’s share PNB EM High Yield Bond Fund

 

Compared to the previous day 1 month 3 months 6 months 1 year 3 years
Total return for the period, % -0.10%0.11%1.92%6.02%2.35%-
CURRENT INDICATORS (17.07.2019)
Net assets of the Fund 6 071 942.07 USD  
NAV per share 1078.7161 USD
Average rating B1
Yield to maturity (annual) 9.09%
Average maturity, in years 9.3
Volatility 7.98%
Number of holdings 11
Fund PNB EM High Yield Bond Fund. Cost of a share today:
Data are updated each business day after 11:00 am
*NAV per share in EUR currency according to the European Central Bank (ECB) reference exchange rate

€ 960.7973

Value increase of the fund’s share PNB EM High Yield Bond Fund

Compared to the previous day 1 month 3 months 6 months 1 year 3 years
Total return for the period, % -0.11%-0.15%2.23 %7.72%--
CURRENT INDICATORS (17.07.2019)
Net assets of the Fund 5 414 125.79 EUR  
NAV per share 961.8512 EUR
Average rating B1
Yield to maturity (annual/USD) 9.09%
Average maturity, in years 9.3
Volatility 7.98%
Number of holdings 11

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Fund PNB EM High Yield Bond Fund

The processing of personal data entered by you is managed by IPAS “PNB Asset Management”, Riga, 21 E.Birznieka - Upīša Street, LV-1011. Your personal data will be processed for the purpose of preparing and sending an informative statement on the pension plan\'s profitability statistics. You have the right to refuse to receive reports at any time. To get more information on processing of your personal data

you can read for this link or please write to: fondi@pnbbanka.eu.

PORTFOLIO STRUCTURE

Industry Share in the fund
Sovereign bonds 85.10%
Oil, gas 4.70%
Telecommunications service 5.20%
Metals&Mining 5.00%

Country Share in the fund
Cash 0.02%
Ecuador 16.83%
Venezuela 4.56%
Ivory Coast 7.72%
Tajikistan 15.79%
Tunisia 8.32%
Ukraine 8.13%
Argentina 12.79%
USA 4.54%
Oman 4.99%
Turkey 7.67%
Russia 4.80%

Issuer Share of issuers,%
Banque Centrale de Tunisie 8.32%
Ukraine 8.13%
Republic of Tajikistan 15.79%
Republic of Ecuador 16.83%
PDVSA 6.32%
Ivory Coast 7.72%
Omantel 4.99%
Republic of Argentina 12.79%
Republic of Turkey 7.67%
Petropalovsk 4.80%
Download the full history of the fund NAV per share PNB EM High Yield Bond Fund

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How it works?

Choose the Investment Fund and purchase its shares. Along with other investors you become the owner of the portfolio consisting of a variety of assets. The fund is managed by a professional with many years of experience that follows the market on a daily basis and decides on placement of the fund’s resources.
1
The fund is a grouped i.e. diversified portfolio of securities that decreases considerably the risk of the particular issuer.
2
Minimum investment is 1 investment certificate (around USD 1000) i.e. a part of the securities’ portfolio of emerging markets characterised by securities of high nominal value (USD 100 000 – 200 000).
3

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Major risks: the investments are not insured and profit is not guaranteed.

Commentary of Fund\'s Manager

За две недели стоимость доли фонда PNB EM High Yield Bond Fund подешевела на 0,5% до $1077.77 (€960.9234). PNB EM High Yield Bond Fund показывает двузначную доходность с начала года +12,5%. 12-го июля фонд отметил свою вторую годовщину. С момента создания фонд вырос на 7,8% (3,8% в годовых).

Глава ФРС Джей Пауэлл подтвердил намерение снизить ставку рефинансирования на заседании комитета центробанка 31-го июля. Среди предлогов для возвращения к стимулирующей монетарной политике он озвучил торговые противоречия между крупными экономиками, а также ухудшающиеся перспективы экономического роста в мире.

Впервые за четыре недели зафиксирован отток капитала из биржевых фондов (ETF) развивающихся стран. Инвесторы вывели капитала из фондов на $314,6 млн.

Из новостей по эмитентам выделю снижение ключевой ставки с 17,5% до 17% в Украине. Нацбанк Украины стал очередным регулятором в развивающихся странах, который обратился к понижению ставок, взяв пример с мягкой риторики ФРС и, можно сказать, решённого вопроса понижения ставки в конце месяца. Следующим в очереди, скорее всего, станет турецкий Центробанк, в котором поменялся руководитель как раз с целью проводить более стимулирующую политику.

Падение облигаций PDVSA, которые находятся под санкциями, на 35% в ходе последних двух недель, приостановило восходящую динамику фонда. Но даже при этом, реализация других идей до конца года обеспечит рост до $1100-$1105 за долю.

Лидерами роста были облигации Турции (+3,1%) и Oman Telecom (+2%). Подешевели бумаги PDVSA (-4,5%) и Эквадора (-2,4%). По остальным эмитентам, ценовые изменения — менее существенные.

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MANAGER OF THE FUND

Ģirts Veģeris

Member of the management board.

In year 1989 graduated from Cēsis Secondary School No 1 majoring in physics and mathematics. In year 1994 was awarded BSc. Since year 1995 works in the financial sector.

Mr. Veģeris started with insurance company Balta, and continued his career in the investment management company LVA established by several of the largest insurance companies of Latvia. LVA was acquired by AS PNB Banka in year 2006.

He has been into the management of the investment funds since 2000. As of year 2003 Mr. Veģeris is the manager of the resources of the following Tier 2 pension investment funds established by IPAS “PNB Asset Management”: PNB Active Investment Plan ‘GAUJA’, PNB Balanced Investment Plan ‘VENTA’ and PNB Conservative Investment Plan ‘DAUGAVA’.

INFORMATION ABOUT IPAS “PNB Asset Management”

On 1 July 1999 the Financial and Capital Market Commission (FCMC) issued to IPAS PNB Asset Management a licence for management of the investments.

On 4 October 2002 the Financial and Capital Market Commission (FCMC) issued to IPAS PNB Asset Management a licence for management of the resources of the state funded pension scheme (Tier 2 pensions).

On 16 December 2002 an agreement on management of the resources of the state-funded pension scheme was concluded with the State Social Insurance Agency (SSIA).

Reg. Nr. 40003411599
Registration date 24 September 1998 
Auditor of Fund SIA PricewaterhouseCoopers 
PROFILE OF THE FUND
Launch date: 12.07.2017
Custodian bank: AS "PNB Banka"
Auditor of Fund SIA PricewaterhouseCoopers 
ISIN kods LV0000400950
Bloomberg ticker PNBEMHY LR