| Morningstar Fund Report | 17/04/2025 |  |
Pictet-Global Emerging Debt P USD |
| Performance History | 31/03/2025 |
| Growth of 1,000 (GBP) | Advanced Graph |
 | Fund | -3.3 | -6.0 | 1.6 | 8.8 | -1.5 |
| +/-Cat | -0.4 | -0.3 | -2.7 | 2.1 | -0.9 |
| +/-B’mrk | -1.5 | -0.2 | -2.6 | 4.7 | -1.1 |
| Category: Global Emerging Markets Bond | ||||||
| Category Benchmark: Morningstar EM Sov Bd GR USD | ||||||
| Key Stats | ||
| NAV 16/04/2025 | USD 404.71 | |
| Day Change | 0.58% | |
| Morningstar Category™ | Global Emerging Markets Bond | |
| ISIN | LU0128467544 | |
| Fund Size (Mil) 16/04/2025 | USD 1773.79 | |
| Share Class Size (Mil) 16/04/2025 | USD 65.48 | |
| Max Initial Charge | 5.00% | |
| Ongoing Charge 07/02/2025 | 1.37% | |
| Morningstar Research |
| Analyst Report | 03/05/2024 Arvind Subramanian, Senior Analyst Morningstar, Inc |
Since a personnel shakeup four years ago, this team has been strengthened and cooperation has been enhanced, meriting an upgrade of Pictet-Global Emerging Debt's People Pillar rating to Above Average from Average. Its cheapest HZ and A1 share... | |
| Click here to read this analyst report on the underlying fund. | |
| Morningstar Pillars | |
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| People | 24 |
| Parent | 24 |
| Process | 23 |
| Performance | |
| Price | |
| Investment Objective: Pictet-Global Emerging Debt P USD |
| To increase the value of your investment, through income and investment growth. The Fund invests at least two-thirds of its net assets in bonds and other debt instruments issued or guaranteed by national or local governments of Emerging countries and/or other issuers domiciled in Emerging countries and money market instruments. |
| Returns | |||||||||||||
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| Management | ||
Manager Name Start Date | ||
Andrew Stanners 01/01/2025 | ||
Guido Chamorro 01/05/2018 | ||
| Click here to see others | ||
Inception Date 13/04/1999 | ||
| Category Benchmark | |
| Fund Benchmark | Morningstar Benchmark |
| JPM EMBI Global Diversified TR USD | Morningstar EM Sov Bd GR USD |
| Portfolio Profile for Pictet-Global Emerging Debt P USD | 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 | -0.25 | 9.80 | 4.39 | -3.28 | -5.98 | 1.55 | 8.80 | -1.50 |
| +/- Category | 0.07 | 2.10 | 1.73 | -0.40 | -0.32 | -2.65 | 2.14 | -0.92 |
| +/- Category Index | -2.48 | -0.20 | 1.33 | -1.47 | -0.20 | -2.57 | 4.67 | -1.05 |
| % Rank in Category | 49 | 34 | 23 | 66 | 51 | 80 | 32 | 86 |
| Trailing Returns (GBP) | 16/04/2025 | ||
| Total Returns | +/- Category | +/- Category Index | |
| 1 Day | 0.58 | 0.58 | 0.59 |
| 1 Week | -0.72 | 2.15 | 1.80 |
| 1 Month | -5.03 | -0.71 | -0.85 |
| 3 Months | -8.31 | -1.71 | -1.51 |
| 6 Months | -3.06 | -1.40 | 0.97 |
| YTD | -5.77 | -1.22 | -1.06 |
| 1 Year | 1.01 | 1.17 | 1.04 |
| 3 Years Annualised | 1.31 | -2.06 | -0.63 |
| 5 Years Annualised | 0.87 | -1.08 | 0.21 |
| 10 Years Annualised | 3.08 | -0.28 | -0.41 |
| Category: Global Emerging Markets Bond | |||
| Category Index: Morningstar EM Sov Bd GR USD | |||
| Quarterly Returns (GBP) | 31/03/2025 | |||
| Quarter 1 | Quarter 2 | Quarter 3 | Quarter 4 | |
| 2025 | -1.50 | - | - | - |
| 2024 | 3.48 | -0.94 | 0.52 | 5.58 |
| 2023 | -2.21 | -1.15 | -0.12 | 5.19 |
| 2022 | -3.48 | -4.27 | 2.82 | -1.03 |
| 2021 | -6.28 | 3.31 | 0.38 | -0.48 |
| 2020 | -7.51 | 13.99 | -2.37 | 1.43 |
| Morningstar Rating™(Relative to Category) | 31/03/2025 | ||||||||||||||||||||
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| Category : Global Emerging Markets Bond | 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 | |
| Morningstar EM Sov Bd GR USD | JPM EMBI Plus TR USD | |
| 3-Yr Beta | 1.00 | 0.91 |
| 3-Yr Alpha | -0.53 | -1.77 |
| 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 | 354 |
| Assets in Top 10 Holdings | 18.44 |
| Name | Sector | Country | % of Assets | ||
 10 Year Treasury Note Future June 25 |  | United States | 4.21 | ||
| Pictet-Sovereign Short-Term MM USD Z | | Luxembourg | 3.27 | ||
| 5 Year Treasury Note Future June 25 | | United States | 1.95 | ||
| 2 Year Treasury Note Future June 25 | | United States | 1.84 | ||
| Trinidad And Tobago (Republic Of) 6.4% | | Trinidad And Tobago | 1.56 | ||
| Argentina (Republic Of) 4.125% | | Argentina | 1.23 | ||
| Saudi Arabia (Kingdom of) 4.5% | | Saudi Arabia | 1.14 | ||
| Ultra US Treasury Bond Future June 25 | | United States | 1.12 | ||
| PT Hutama Karya (Persero) 3.75% | | Indonesia | 1.07 | ||
| Argentina (Republic Of) 3.5% | | Argentina | 1.04 | ||
Increase  Decrease  New since last portfolio | |||||
| Category: Global Emerging Markets Bond | |||||
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| Biography | |
| Andrew Stanners is an Investment Director on the Emerging Market Debt Team at abrdn. Andrew joined the company via the acquisition of Deutsche Asset Management’s London and Philadelphia fixed income businesses in 2005. Andrew held a similar role at Deutsche Asset Management, which he re-joined in 2004 following a short appointment as an Analyst at Cheyne Capital. Andrew initially joined Deutsche Asset Management in 2001. Andrew graduated with a BA joint honours in Economics and Economic History from York University. |
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| Fund Manager | Guido Chamorro |
| Manager Start Date | 01/05/2018 |
| Career Start Year | 1997 |
| Education |
| University of Chicago, B.A. |
| University of Chicago (Booth), M.B.A. |
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| Biography | |
| Guido Chamorro joined Pictet Asset Management in 2005 and is co-lead of our Hard Currency Emerging Debt strategies and Senior Investment Manager for global emerging market debt portfolios. Prior to assuming his current role, Guido was a Senior Investment Manager in the team covering both hard and local currency debt, focusing on EMEA and Latin American regions, and before that a Credit Analyst in the Fixed Income Credit Research team. Before joining Pictet, he worked for Fitch Inc. in Chicago as a director of their Latin American Corporate Finance Group and Duff & Phelps Credit Rating as an analyst thereby gaining seven years' experience in corporate credit research. Guido graduated with a BA in Economics from the University of Chicago and holds an MBA from the University of Chicago's Graduate School of Business. |
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| Fund Manager | Robert Simpson |
| Manager Start Date | 13/11/2020 |
| Career Start Year | 2005 |
| Education |
| University of Manchester, B.S. |
| University of Manchester, M.S. |
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| Biography | |
| Robert Simpson joined Pictet Asset Management in 2019 and is co-lead of our Hard Currency Emerging Debt strategies and Senior Investment Manager for global emerging market debt portfolios. Before joining Pictet, Robert spent 13 years at Insight Investment where he was a Portfolio Manager focusing on hard and local currency emerging market debt portfolios. He holds a BSc in Pharmacology, attained a PG Diploma in Economics in 2004 and later earned an MSc in Finance and Economics in 2005, all from the University of Manchester. Robert is also a Chartered Financial Analyst (CFA) charterholder. |
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| Fund Manager | Alper Gocer |
| Manager Start Date | 01/10/2023 |
| 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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| Fund Manager | Christopher Preece |
| Manager Start Date | 28/03/2024 |
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