| Morningstar Fund Report | 13/04/2025 |  |
Pictet-Asian Local Currency Debt I GBP |
| Performance History | 31/03/2025 |
| Growth of 1,000 (GBP) | Advanced Graph |
 | Fund | -2.4 | 7.4 | -3.2 | 1.6 | -2.1 |
| +/-Cat | 1.4 | 4.4 | -1.5 | -0.7 | -0.9 |
| +/-B’mrk | -0.1 | 3.1 | -3.1 | -2.5 | -0.9 |
| Category: Asia Bond - Local Currency | ||||||
| Category Benchmark: Markit iBoxx ALBI TR USD | ||||||
| Key Stats | ||
| NAV 11/04/2025 | GBP 147.12 | |
| Day Change | -0.43% | |
| Morningstar Category™ | Asia Bond - Local Currency | |
| IA (formerly IMA) Sector | Specialist Bond | |
| ISIN | LU0497795186 | |
| Fund Size (Mil) 11/04/2025 | USD 140.51 | |
| Share Class Size (Mil) 11/04/2025 | GBP 0.28 | |
| Max Initial Charge | 5.00% | |
| Ongoing Charge 07/02/2025 | 0.98% | |
| Morningstar Research |
| Analyst Report | 11/07/2024 Arvind Subramanian, Senior Analyst Morningstar, Inc |
Pictet-Asian Local Currency Debt benefits from an experienced management team, but the managers are still developing their joint track record here. This combined with some reservations in the strategy’s country selection capabilities among Asian... | |
| Click here to read this analyst report on the underlying fund. | |
| Morningstar Pillars | |
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| People | 23 |
| Parent | 24 |
| Process | 23 |
| Performance | |
| Price | |
| Investment Objective: Pictet-Asian Local Currency Debt I GBP |
| To increase the value of your investment, through income and investment growth. The Fund invests at least two-thirds of its net assets in a diversified portfolio of bonds and other debt securities linked to Asian local debt. |
| Returns | |||||||||||||
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| Management | ||
Manager Name Start Date | ||
Ali Bora Yigitbasioglu 13/11/2020 | ||
Carrie Liaw 01/05/2018 | ||
| Click here to see others | ||
Inception Date 09/04/2010 | ||
| Category Benchmark | |
| Fund Benchmark | Morningstar Benchmark |
| JPM JADE Broad Asia Diversified TR USD | Markit iBoxx ALBI TR USD |
| Portfolio Profile for Pictet-Asian Local Currency Debt I GBP | 31/03/2025 |
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| Growth Of 1000 (GBP) | 31/03/2025 |
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| Annual Returns (GBP) | 31/03/2025 | |||||||
| 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 31/03 | |
| Price Return | 4.08 | 4.91 | 4.79 | -2.37 | 7.43 | -3.24 | 1.64 | -2.11 |
| +/- Category | 0.50 | 1.24 | -0.18 | 1.40 | 4.41 | -1.54 | -0.71 | -0.94 |
| +/- Category Index | -1.64 | 0.13 | -1.38 | -0.08 | 3.15 | -3.07 | -2.52 | -0.94 |
| % Rank in Category | 43 | 32 | 65 | 22 | 8 | 74 | 67 | 98 |
| Trailing Returns (GBP) | 11/04/2025 | ||
| Total Returns | +/- Category | +/- Category Index | |
| 1 Day | -0.43 | -0.19 | -0.28 |
| 1 Week | 2.15 | 3.49 | 3.51 |
| 1 Month | 0.55 | 1.42 | 0.81 |
| 3 Months | -3.43 | 0.42 | 0.31 |
| 6 Months | -0.50 | 0.95 | -0.60 |
| YTD | -1.23 | 0.74 | 0.61 |
| 1 Year | 2.90 | 0.99 | -0.28 |
| 3 Years Annualised | 1.12 | 0.61 | -1.12 |
| 5 Years Annualised | 1.50 | 1.39 | 0.09 |
| 10 Years Annualised | 3.25 | 1.08 | -0.39 |
| Category: Asia Bond - Local Currency | |||
| Category Index: Markit iBoxx ALBI TR USD | |||
| Quarterly Returns (GBP) | 31/03/2025 | |||
| Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | |
| 2025 | -2.11 | - | - | - |
| 2024 | -2.40 | -0.90 | 5.02 | 0.05 |
| 2023 | -0.72 | -5.31 | 0.50 | 2.43 |
| 2022 | 1.60 | 1.77 | 3.22 | 0.66 |
| 2021 | -4.54 | 0.18 | 1.65 | 0.43 |
| 2020 | -1.23 | 8.27 | -2.38 | 0.38 |
| Morningstar Rating™(Relative to Category) | 31/03/2025 | ||||||||||||||||||||
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| Category : Asia Bond - Local Currency | Click here to see our Methodology | ||||||||||||||||||||
| Volatility Measurements | 31/03/2025 | ||||||||||
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| Modern Portfolio Statistics | 31/03/2025 | 31/03/2025 |
| Standard Index | Best Fit Index | |
| Markit iBoxx ALBI TR USD | Markit iBoxx ALBI TR USD | |
| 3-Yr Beta | 1.11 | 1.11 |
| 3-Yr Alpha | -1.25 | -1.25 |
| Fixed Income Style | 31/01/2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Asset Allocation | 31/03/2025 |
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| Top 10 Holdings | 31/03/2025 |
| Portfolio NEW | |
| Total Number of Equity Holdings | 0 |
| Total Number of Bond Holdings | 106 |
| Assets in Top 10 Holdings | 27.38 |
| Name | Sector | Country | % of Assets | ||
 Korea 3 Year Bond Future June 25 |  | Korea, Republic Of | 19.51 | ||
| Philippines (Republic Of) 6.25% | | Philippines | 7.88 | ||
Increase  Decrease  New since last portfolio | |||||
| Category: Asia Bond - Local Currency | |||||
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| Biography | |
| Ali Bora Yigitbasioglu joined Pictet Asset Management in 2019 and is a Senior Investment Manager in the Emerging Market Debt team responsible for global emerging market debt and Asian debt portfolios based in Singapore. Prior to assuming his current role, Ali was a Senior Investment Manager for the Total Return Fixed Income team. Before joining Pictet he was Senior Portfolio Manager in Global Macro at Cambridge Strategy Asset Management in Monaco, responsible for FX and Rates and specialising in Asian markets. Ali graduated in Pure and Applied Maths at Cambridge University, and continued his graduate studies with Distinction at Imperial College in Finance and at Bilkent University in Finance and Econometrics. He completed his PhD in Mathematical Finance at ICMA Centre (Reading) and started his career in London at Lehman Brothers in 2004 as an FX Quantitative Analyst. From 2006 until 2010 he was an EM local rates, and a Hybrid Exotics trader at Lehman Brothers and Dresdner Kleinwort respectively. |
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| Fund Manager | Carrie Liaw |
| Manager Start Date | 01/05/2018 |
| Career Start Year | 2000 |
| Education |
| Nanyang Technological School, B.S. |
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| Biography | |
| Carrie Liaw joined Pictet Asset Management in 2015 and is a Senior Investment Manager responsible for global emerging market debt and Asian debt portfolios based in Singapore. Before joining Pictet Carrie was with the Monetary Authority of Singapore for 15 years and worked in different investment divisions within the Reserve Management Department, including heading up the European Rates and FX divisions. Carrie holds a Bachelor of Business (Hons) in Financial Analysis from Nanyang Technological University, Singapore. She is also a Chartered Financial Analyst (CFA) charterholder. |
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| Fund Manager | Alper Gocer |
| Manager Start Date | 13/11/2020 |
| Career Start Year | 1999 |
| Education |
| London Business School, Master |
| Bilkent University, BSc |
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| Biography | |
| Alper Gocer joined Pictet Asset Management in 2016 and is Head of Emerging Market Sovereign Debt and is lead of our Emerging Local Currency Debt strategies. Prior to joining the team in 2018, he was a Senior Investment Manager in the Total Return Emerging Markets team. Before joining Pictet, Alper was a Portfolio Manager at London Diversified Fund Management within the Global Macro Fund. Prior to LDFM, Alper was a Portfolio Manager at North Asset Management focused on Global Macro trading mainly in Emerging Markets. He began his career as a Quantitative Analyst at Citigroup. Alper has a Masters in Finance from the London Business School and a BSc. in Industrial Engineering from Bilkent University. |
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