Morningstar Fund Report  | 01/04/2025Print

Neuberger Berman Emerging Market Debt - Hard Currency Fund USD A Accumulating Class

Performance History28/02/2025
Growth of 1,000 (GBP) Advanced Graph
Neuberger Berman Emerging Market Debt - Hard Currency Fund USD A Accumulating Class
Fund-3.2-9.46.714.32.6
+/-Cat-0.3-3.72.57.70.3
+/-B’mrk-1.3-3.62.610.20.0
 
Category: Global Emerging Markets Bond
Category Benchmark: Morningstar EM Sov Bd GR USD
Key Stats
NAV
28/03/2025		 USD 14.58
Day Change 0.15%
Morningstar Category™ Global Emerging Markets Bond
ISIN IE00B986J944
Fund Size (Mil)
31/03/2025		 USD 2780.45
Share Class Size (Mil)
31/03/2025		 USD 129.84
Max Initial Charge -
Ongoing Charge
17/02/2023		  1.51%
Morningstar Research
Analyst Report29/05/2024
Arvind Subramanian, Senior Analyst
Morningstar, Inc

An experienced and long-tenured team and a time-tested investment process underpin our conviction in Neuberger Berman Emerging-Market Debt Hard Currency. Its cheapest share classes retain a Morningstar Analyst Rating of Gold, while its...

Click here to read this analyst report on the underlying fund.
Morningstar Pillars
People25
Parent24
Process25
Performance
Price
Investment Objective: Neuberger Berman Emerging Market Debt - Hard Currency Fund USD A Accumulating Class
The Portfolio aims to achieve a target average return of 1-2% over the Benchmark (as specified in the “Benchmark” section below) before fees over a market cycle (typically 3 years) by investing primarily in Hard Currency-denominated debt issued in Emerging Market Countries. Investors should note that the target return is not guaranteed over a market cycle, a 12-month or any period and the Portfolio’s capital is at risk. Investors should also note that, over the course of a market cycle, there may be significant periods of time during which the performance of the Portfolio will deviate from the targeted return and the Portfolio may experience periods of negative return. There can be no guarantee that the Portfolio will ultimately achieve its investment objective.
Returns
Trailing Returns (GBP)28/03/2025
YTD-1.33
3 Years Annualised5.76
5 Years Annualised3.22
10 Years Annualised4.66
12 Month Yield 0.00
Management
Manager Name
Start Date
Bart van der Made
31/05/2013
Rob Drijkoningen
31/05/2013
Click here to see others
Inception Date
31/05/2013

Category Benchmark
Fund BenchmarkMorningstar Benchmark
JPM EMBI Global Diversified TR USDMorningstar EM Sov Bd GR USD
Portfolio Profile for  Neuberger Berman Emerging Market Debt - Hard Currency Fund USD A Accumulating Class28/02/2025
Fixed Income
Effective Maturity12.70
Effective Duration6.85
Morningstar Style Box®
Fixed Income Style
Asset Allocation
  % Long% Short% Net Assets
Stock0.000.000.00
Bond108.5411.0797.48
Property0.000.000.00
Cash22.6921.331.36
Other1.170.001.17
Growth Of 1000 (GBP) 28/02/2025
Fund:  Neuberger Berman Emerging Market Debt - Hard Currency Fund USD A Accumulating Class
Category:  Global Emerging Markets Bond
Category Index:  Morningstar EM Sov Bd GR USD
Growth of 1,000 GBP
Annual Returns (GBP)28/02/2025
 201820192020202120222023202428/02
Price Return-0.8110.001.73-3.16-9.376.6814.342.59
+/- Category-0.492.30-0.94-0.28-3.722.477.680.35
+/- Category Index-3.04-0.01-1.33-1.34-3.602.5610.210.01
% Rank in Category583264658019528
Trailing Returns (GBP)28/03/2025
   Total Returns   +/- Category   +/- Category Index
1 Day0.15   0.00-0.25
1 Week-1.03   -0.26-0.86
1 Month-3.55   -0.81-0.59
3 Months-0.68   -0.34-0.23
6 Months6.07   2.293.80
YTD-1.33   -0.56-0.88
1 Year6.77   3.024.12
3 Years Annualised5.76   1.103.24
5 Years Annualised3.22   0.261.56
10 Years Annualised4.66   0.580.61
 
Category: Global Emerging Markets Bond
Category Index: Morningstar EM Sov Bd GR USD
Quarterly Returns (GBP)28/02/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
20245.670.080.667.40
2023-1.240.232.225.44
2022-6.54-7.791.753.36
2021-5.684.121.39-2.74
2020-8.8512.97-1.990.80
 
 
 
Morningstar Rating™(Relative to Category)28/02/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearAbove AverageAbove Average4 star
5-YearAverageAbove Average3 star
10-YearAbove AverageAverage4 star
OverallAbove AverageAbove Average4 star
 
Category :  Global Emerging Markets BondClick here to see our Methodology
Volatility Measurements28/02/2025
 
3-Yr Std Dev8.28 %
3-Yr Mean Return7.72 %
 
3-Yr Sharpe Ratio0.44
 
Modern Portfolio Statistics28/02/202528/02/2025
 Standard IndexBest Fit Index
 Morningstar EM Sov Bd GR USD  JPM EMBI Plus TR USD
3-Yr Beta1.091.00
3-Yr Alpha3.562.52
 
Fixed Income Style31/01/2025
Morningstar Style Box®
Fixed Income Style
SizeRel to Cat
Total Market Value (Mil)USD 2953
Maturity Distribution %
1 to 35.57
3 to 510.14
5 to 718.84
7 to 1018.96
10 to 1514.70
15 to 204.33
20 to 3023.27
Over 303.75
Effective Maturity12.70
Effective Duration6.85
Credit Quality Breakdown %     %
AAA3.56   BB30.64
AA3.07   B18.47
A6.01   Below B18.53
BBB18.49   Not Rated1.23
 
Category: Global Emerging Markets Bond
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock0.000.000.00
Bond108.5411.0797.48
Property0.000.000.00
Cash22.6921.331.36
Other1.170.001.17
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings0
Total Number of Bond Holdings329
Assets in Top 10 Holdings20.87
NameSectorCountry% of Assets
F/C Us 5yr Note (Cbt) Jun25United States5.26
F/C Us Long Bond(Cbt) Jun25United States3.59
F/C Us 2yr Note (Cbt) Jun25United States2.72
Petroleos MexicanosMexico2.65
F/C Us 10yr Note (Cbt)jun25United States2.28
Southern Gas CorridorAzerbaijan1.63
El Salvador (Republic of)El Salvador1.51
Oman (Sultanate Of)Oman1.22
 
Increase Decrease New since last portfolio
Category: Global Emerging Markets Bond
 
Management
Name of CompanyNeuberger Berman Asset Management Ireland Limited
Phone-
Website -
Address32 Molesworth St, Dublin
 -   -
 Ireland
DomicileIreland
Legal StructureOpen Ended Investment Company
UCITSYes
Inception Date31/05/2013
Fund Advisor(s)
Neuberger Berman Asset Management Ireland Limited
Fund ManagerBart van der Made
Manager Start Date31/05/2013
Career Start Year1997
Education
Erasmus University, Rotterdam, M.S.
 
Biography
Bart van der Made, CFA, Managing Director, joined Neuberger Berman in 2013. Mr. van der Made is a lead Portfolio Manager on the Emerging Markets Debt team, responsible for managing EMD Hard Currency portfolios. Prior to joining Neuberger Berman, Mr. van der Made held various roles at ING Investment Management, most recently since 2009, as lead Portfolio Manager of emerging markets debt (hard currency). From 2005 onwards, Mr. van der Made was a Senior Portfolio Manager and before that was the EMD Economist — the role in which he joined in 2000. Mr. van der Made earned a master's degree in Econometrics from Erasmus University in Rotterdam, and has been awarded the Chartered Financial Analyst designation.
Fund ManagerRob Drijkoningen
Manager Start Date31/05/2013
Career Start Year1990
Education
1988, Erasmus University, M.A.
 
Biography
Rob Drijkoningen is a Managing Director of Neuberger Berman Investment Advisers LLC. Rob joined Neuberger Berman in 2013 and is a portfolio manager and co-head of the firm’s Emerging Markets Debt team. Rob joined Neuberger Berman after working at ING Investment Management for almost 18 years, most recently as the global Co-Head of the Emerging Markets Debt team responsible for managing over $24.2 billion in assets under management in Emerging Markets Debt (as of September 30, 2019) and 32 investment professionals. . He earned his Macro-Economics degree from Erasmus University in Rotterdam and has authored numerous articles on emerging markets debt subjects. Rob is DSI qualified.
Fund ManagerGorky Urquieta
Manager Start Date31/05/2013
Career Start Year1993
Education
1993, University of Wisconsin, M.S.
Bolivian Catholic University, B.A.
 
Biography
Gorky Urquieta, Managing Director, joined Neuberger Berman in 2013. Mr. Urquieta is a Portfolio Manager and Co-Head of the Emerging Markets Debt team. He joined Neuberger Berman from ING Investment Management where he was most recently global co-head of Emerging Markets Debt (EMD), responsible for global emerging markets debt external and local currency strategies. Mr. Urquieta joined ING Investment Management in 1997 until 2013. He obtained a BA in Business Administration from the Bolivian Catholic University in La Paz, Bolivia, and a master's degree in finance from the University of Wisconsin.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Chargen/a
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge1.40%
Ongoing Charge1.51%
Purchase Details
Minimum Investments
Initial1000  GBP
Additional-
Savings-
Tax Free Savings Schemes
ISAsYes