AmEmerging Markets Bond

Overview

Objective

The Fund aims to achieve long term total returns by investing in the Target Fund which invests primarily in public sector, sovereign and corporate bonds issued by emerging market borrowers. Manager of the Target Fund is Investec Asset Management Guernsey Limited.

Financial Year End: 30 April
Distribution Policy: Income distribution (if any) is incidental.

Investor Profile

The Fund is suitable for investors seeking:

• capital appreciation on their investments; 
• long-term investment horizon; and 
• participation in emerging markets debt instruments.
  

Strategy

A minimum of 95% of the Fund’s NAV will be invested in the Target Fund while maintaining a maximum of 5% of the Fund’s NAV in liquid assets.

A minimum of 95% of the Fund’s NAV will be invested in the Target Fund. However, the Manager may adopt temporary defensive strategy by maintaining 100% in liquid asset/cash weighting that may be inconsistent with the Fund’s principal investment and asset allocation strategy. This defensive strategy may be necessary to protect the Fund’s investment in response to adverse market, economic, political, or any other conditions. This will be done in consultation with the Trustee and with consent of the Investment Committee. In addition, we may choose to replace the Target Fund with other funds with similar objective if in our view, the Target Fund no longer meets the Fund’s investment objective, or when acting in the interest of the unitholders.

The Management of the Target Fund
The manager of the Target Fund is currently Investec Asset Management Guernsey Limited, which was incorporated with limited liability in Guernsey on 7 February 1980. The registered office of the Manager of the Target Fund, which is also its head office, is Guinness Flight House, La Plaiderie, St Peter Port, Guernsey GY1 3QH, Channel Islands. The manager of the Target Fund holds a license under the Law, issued by the Commission, which permits it to carry on controlled investment business within the Bailiwick of Guernsey.

The Investment Manager of the Target Fund is Investec Asset Management Limited, which was incorporated in England and Wales on 10 July 1986. The registered office of the Investment Manager of the Target Fund is 2 Gresham Street, London EC2V 7QP. The Investment Manager of the Target Fund is regulated by the UK Financial Services Authority.

The Target Fund was launched on 30 November 2007 and the fund size as at 29 February 2008 is USD$20.3 million. IGSF has received approval from its shareholders in an extraordinary general meeting held on the 13 May 2008 to redomicile IGSF to Luxembourg on the 1st July 2008. The consequences of such approval, will result, inter alia, IGSF becoming a Luxembourg domiciled societe d’investissement a capital variable (SICAV), listing on the Luxembourg Stock Exchange, a UCITS compliant umbrella fund governed by a new prospectus and constitutive documents and it will be subject to, new regulations and a new regulatory authority.

Investors should note that the information contained herein in relation to the Target Fund is subject to change on IGSF’s  redomicile to Luxembourg.

The current investment style of the Target Fund is a combination of top-down and bottom-up factors. The top-down process determines the general outlook for emerging markets and aims to identify different themes in the market.

Fees & Transactions

Investment Return

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