We have published a new Morningstar Qualitative Rating and Research Report for Schroder ISF Emerging Market Debt Absolute Return.
"Although it delivered a decent positive return in 2009, the fund trailed its category peers by nearly 15 percentage points. But that is far from the whole story. In keeping with the fund’s name, the managers use cash to play defense in order to try to deliver positive returns each calendar year, and this sets the fund apart from its average peer. We note in this regard that the defensive positioning that held the fund back in 09 helped it beat its average peer by 16 percentage points in 2008’s downdraft..."
The full four page pdf report can be accessed here. It is free to users of Morningstar.co.uk.
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