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

$ 1065.3799

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, % 1.24 %0.76%1.75%8.66%-0.08%-
CURRENT INDICATORS (22.05.2019)
Net assets of the Fund 6 075 342.00 USD  
NAV per share 1065.3799 USD
Average rating B1
Yield to maturity (annual) 9.33%
Average maturity, in years 9.9
Volatility 7.72 %
Number of holdings 10
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

€ 953.7015

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, % 1.15 %1.48%3.30 %11.36%--
CURRENT INDICATORS (22.05.2019)
Net assets of the Fund 5 438 494.31 EUR  
NAV per share 953.7015 EUR

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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

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PORTFOLIO STRUCTURE

Industry Share in the fund
Sovereign bonds 88.00%
Oil, gas 7.10%
Telecommunications service 4.90%

Country Share in the fund
Cash 0.05%
Ecuador 16.54%
Venezuela 6.63%
Ivory Coast 7.73%
Tajikistan 15.72%
Tunisia 8.27%
Ukraine 14.97%
Argentina 12.03%
USA 5.66%
Oman 4.89%
Turkey 7.45%

Issuer Share of issuers,%
Bnq Cen Tunisia 8.27%
Ukraine Government 14.97%
Republic of Tajikistan 15.72%
Republic of Ecuador 16.54%
Petroleos de Venezuela 6.63%
Ivory Coast 7.73%
US TREASURY 5.66%
OTELOM 4.89%
Republic of Argentina 12.03%
Republic of Turkey 7.45%
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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

Over the week, the net asset value of the PNB EM High Yield Bond Fund was up 0.5%, from $1,051.77 to $1057.44 (EUR 943.89). The value of the benchmark index is 1,044.64. The fund is among the top 4% based on YTD performance (+9%) in the segment of emerging markets funds.

By the end of the week, investors began to move away from the negativity caused by publications on trade negotiations between the US and China. If this stage of the exchange of statements between the parties is completed, then at the end of May and the summer months there will be less volatility on higher-risk assets, which include high-yield bonds of emerging countries.

Three bonds contributed to the fund’s appreciation this week: Turkey, Ecuador and Ukraine. As noted in past comments, it is on these bonds, along with the debt of Argentina, that I bet in the near future.

The growth leader was Turkey (+1.2%), Ecuador (+0.9%) and the Ukraine (+0.6%). The debt of PDVSA (-6%) depreciated. For other issuers, price changes are less significant.

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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