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BNPEASY JPM EMBI GLOBAL DIVERS COMPO 9CC - LU1291091814

Fiche d'identité
VL 121,56 EUR (23/03/2017)
Devise Euro (EUR)
Domicile Luxembourg (LU)
Code ISIN ? LU1291091814
Société de gestion BNPP Investment Partners Lux.
Type d'investisseur ? Tous souscripteurs
Indice de référence ? JPM EMBI Global Diversified (USD) RI
Gérant Charles Lewandowski
Date de création 22/07/2015
Freq. valorisation Quotidien
Juridique SICAV
Capi/Distri ? Capitalisation
Part couverte ? Non
Fonds de Fonds ? Non
Fonds ISR ? Non
ETF ? Oui
FIA Non
Eligible P.E.A. ? Non
Eligible P.E.A. PME ? Non
Gestion
Catégorie Quantalys ? Obligations Pays Emergents Monde

Description de la catégorie ? Les fonds de cette catégorie investissent en titres de créances d’émetteurs situés dans des marchés émergents du monde entier, libellés en différentes devises. Les émetteurs peuvent être des Etats ou des entreprises. Les fonds de cette catégorie exposent l'investisseur à un risque de taux d'intérêt, à un risque de crédit dans le cas où ils détiennent des obligations émises par des sociétés, et à un risque de défaut. Ils exposent également l'investisseur de la zone euro à un risque de change lié à l'évolution du taux de change entre l'euro et les différentes devises des obligations en portefeuille.

Objectif de gestion ? Replicate the performance of the JPM EMBI Global Diversified Composite (TR)* index (Bloomberg: JPGCCOMP index), including fluctuations, and to maintain the Tracking Error between the sub-fund and the index below 1%. Investors of the hedged share categories are informed that the Tracking Error will be higher for this share category because of the hedging. For that purpose, the manager of the sub-fund’s portfolio will be able to switch between the two index replication methods described below, to ensure optimum management of the sub-fund. The sub-fund will not invest more than 10% of its net assets in shares or units issued by UCITS or other UCIs. Full replication The sub-fund will achieve exposure to bonds issued on the emerging markets by investing at least 90% of its assets in debt securities issued by issuers included in the index. The remainder of the assets may be invested in debt securities other than those referred to in the core policy, Money Market Instruments, cash, futures and forwards. Optimised replication The sub-fund will achieve exposure to bonds issued on the emerging markets by investing in a representative sample of the underlying index (the model portfolio). The sub-fund will invest at least 90% of its assets in debt securities issued by issuers included in the index. The remainder of the assets may be invested in debt securities other than those referred to in the core policy, Money Market Instruments or cash. More specifically, the sub-fund may invest up to 10% of its assets in derivatives (including futures) issued by an investment bank and listed on a regulated market, for forex hedging or exposure to the tracked index purposes. Optimised replication will be preferred to full replication whenever the number of components is too high compared to the assets under management, or when the liquidity is not homogeneous across the constituents of the index. While optimisation can be a more cost efficient approach than full replication, it may also lead to an increased in Tracking Error as the sub-fund does not hold all index constituents. A model portfolio will thus be created, and its closeness to the index (Tracking Error below 1%) will be constantly monitored, as will correlations between components (correlation grids, quant tests). The sub-fund aims at replicating as closely as possible the performance of its reference index. However, it may experience some degree of Tracking Error due to replication costs. Tracking Error is calculated as the standard deviation of the difference in the sub-fund and benchmark* weekly returns over one year. In full replication, Tracking Error is mainly due to transaction costs, differences in dividend reinvestment policies and tax treatments and cash drag. In optimised replication, Tracking Error is mainly due to the difference in the sub-fund’s and index compositions, transaction costs, differences in dividend reinvestment policies and tax treatments and cash drag. In both full and optimised replication, the sub-fund follows the same rebalancing policy as the index. Index changes are implemented on the same day as in the index in order not to deviate from the index performance. The costs of rebalancing the portfolio will depend on the index turnover and the transactions costs of trading the underlying securities. Rebalancing cost

Frais
Frais de souscription maxi ? Courtage
Frais de rachat maxi ? Courtage
Frais de gestion maxi ? 0,5 %
Frais courants ? 0,96 %
Commission de surperformance ? Néant
Investissement Minimum
Investissement initial minimum ? -
Investissement suivant minimum ? -
Dans quelles assurances vie trouver ce fonds ?
Contrats grand public Nécessite une licence
Contrats CGPI Nécessite une licence Pro ou Pro+
Tous les contrats Nécessite une licence Pro ou Pro+
Parts du fonds référencées dans Quantalys

La liste des parts du fonds nécessite une licence Pro+
Certaines des informations contenues dans les rubriques 'Gestion' et 'Frais' sont extraites du prospectus du fonds. L'objectif de gestion peut regrouper l'objectif de gestion et une partie de la stratégie d'investissement. Ni le gérant ni l'indice ne sont nécessairement à jour. Les différents frais indiqués sont les maximum mentionnés dans le prospectus, les frais effectivement perçus peuvent être différents.
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Prospectus DICI
dimanche 26 mars 2017
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