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Offshore Insurance / Zurich International

ZI HSBC GIF GEM Debt Total Return

FE Crown Rating

Fund Objective

The Sub-Fund seeks to generate enhanced total return from capital growth and income by investing primarily in a concentrated portfolio of Investment Grade and Non-Investment Grade rated fixed income and other similar securities, denominated in local currency or in the currencies of OECD countries. These securities are issued or guaranteed by governments or government agencies or supranational bodies of Emerging Markets or issued by companies which have their registered office in Emerging Markets. Depending on the Investment Adviser's view as to the attractiveness of the Emerging Markets equity markets, he may invest up to 10% of the Sub-Fund's net asset value in equity and equity equivalent securities issued by companies which have their registered office in, and with an official listing on a major stock exchange or other Regulated Market of an Emerging Market country, as well as those companies which carry out a preponderant part of their business activities in any Emerging Market country. Investments in a combination of convertible bonds and options will be subject to a limit of 25% of the Sub-Fund's net asset value. If the Investment Adviser considers that the Emerging Markets offer insufficient opportunities at any time, he may invest up to 49% of the Sub-Fund's net asset value in liquid assets. The portfolio will be actively managed, aiming to achieve total returns to investors without reference to any market index weightings.The Sub-Fund may also invest in financial derivative instruments such as futures, forwards (including non-deliverable forwards), swaps, options, credit default swaps as well as other structured products. The Sub-Fund intends to use such financial derivative instruments for, inter alia, the purposes of return enhancement, hedging, tax-advantage access to instruments and whenever the Investment Adviser believes the investment in financial derivative instruments will assist the sub-fund in achieving its investment objectives.The global exposure relating to the use of financial derivative instruments shall not exceed the total net asset value of the Sub-Fund. The global exposure relating to financial derivative instruments will be calculated using a Value-at-Risk approach.

Fund Manager

Guillermo Osses
Phil Yuhn

Domicile

Sector Global

Currency

Primary Asset Class

Fund Size

USD 40.69m as at 30-Sep-2014

Unit Name

ZI HSBC GIF GEM Debt Total Return

Inc/Acc

Accumulating 

Citicode

BGG5

Initial Charge

0.00%

Unit Currency

USD 

ISIN

 

Annual Charge

n/a

Bid

USD 1.73

Offer

USD 1.86

Change (Offer)

-0.01 (-0.40%)
21-Nov-2014

Unit LaunchDate

20-Mar-2008

Performance Overview

Performance Charts

Cumulative Performance

  YTD 3m 6m 1y 3y 5y
Fund 5.67 1.17 1.76 4.71 12.83 19.19
Sector 1.82 -3.31 -2.64 1.71 7.21 16.49

Discrete Performance (%)

  2013 2012 2011 2010 2009
Fund -2.55 9.78 -2.29 7.61 26.02
Sector -7.12 13.83 -3.39 11.79 39.23

Asset Allocation

breakdown chart
  Asset Class % of Fund
US Fixed Interest 27.41
Money Market 19.23
Mexican Fixed Interest 12.81
American Emerging Fixed Interest 8.99
European Emerging Fixed Interest 8.21
Indonesian Fixed Interest 4.96
Brazilian Fixed Interest 4.23
South African Fixed Interest 3.95
Chinese Fixed Interest 3.14
Kazakhstan Fixed Interest 1.67
Dutch Fixed Interest 1.66
Peruvian Fixed Interest 1.08
Chilean Fixed Interest 1.06
European Fixed Interest 0.50
African Fixed Interest 0.44
South Korean Fixed Interest 0.42
GCC Fixed Interest 0.25
Philippine Fixed Interest -0.01

Regional Breakdown

breakdown chart
  Region % of Fund
USA 27.41
Money Market 19.23
Mexico 12.81
Turkey 8.21
Colombia 6.48
Indonesia 4.96
Brazil 4.23
South Africa 3.95
China 3.14
Kazakhstan 1.67
Netherlands 1.66
Peru 1.08
Chile 1.06
Venezuela 0.83
Panama 0.81
Europe 0.50
Korea 0.42
Africa 0.35
American Emerging Markets 0.33
Latin America 0.29
United Arab Emirates 0.25
Uruguay 0.25
Namibia 0.09
Philippines -0.01

Sector Breakdown

breakdown chart
  Sector % of Fund
Fixed Interest 80.77
Sundry Debtors / Creditors 19.23

Performance figures are calculated on a bid price to bid price basis.