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Emerging Markets Corporate Debt Fund

Summary

Summary

What is the Emerging Markets Corporate Debt Fund?

The Fund seeks to deliver current income and long term growth of capital by investing primarily in emerging markets corporate debt securities.

DOLLAR DENOMINATED

Provides an allocation to global investment opportunities without the currency volatility of local debt.

HISTORICALLY HIGHER YIELDS

EM Corporate Debt has provided higher yields than comparably rated U.S. corporate bonds.

STRONG PERFORMANCE

Has provided solid performance, with low expenses, relative to peers.

Fund Basicsas of 05/29/2020

Total Net Assets
$56.24 M
Inception Date
12/31/2013
Dividend Frequency
Monthly (Daily Accrual)
Fund Gross Expense Ratio
2.02%
Fund Net Expense Ratio
1.45%
Number of Holdings
211

RELATED CONTENT

Emerging-Market Credit Gets a Boost
August 5, 2019

Easier financial conditions have been almost always positive for emerging-market debt, especially when interest-rate differentials are growing larger between advanced and emerging markets.

Country Assets
China
Brazil
United Arab Emirates
Mexico
Turkey
Colombia
India
Russia
Peru
Chile
Israel
Saudi Arabia
Ukraine
Panama
South Korea
United States
Indonesia
Argentina
Hong Kong
Thailand
Qatar
South Africa
Macau
Kuwait
Oman
Vietnam
Kazakhstan
Zambia
Paraguay
Singapore
Nigeria
Spain
Morocco
Luxembourg
Netherlands
United Kingdom
Mongolia
Portugal
Australia
Cash
Region Assets
Asia
Latin America
Europe
Middle East/Africa
North America

Credit Quality Distribution as of 05/29/2020 View Portfolio

Rating Assets
AA
A
BBB
<BBB
Not Rated

INVESTMENT TEAM

John J. Morton
John J. Morton, CFA

Portfolio Manager

35 Years of Industry Experience

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Director of Taxable Fixed Income

19 Years of Industry Experience

Mila Skulkina
Mila Skulkina

Portfolio Manager

19 Years of Industry Experience

Supported By 62 Investment Professionals with 16 Years Avg. Industry Experience

Contact a Representative

To contact your representative, enter your zip code and select your channel below.

Performance

Performance

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
Investment Grade Corporate
High Yield Corporate
Sovereign
Other
Cash
Rating Assets
Less than 1 year
1-2.99 years
3-4.99 years
5-6.99 years
7-9.99 years
Greater than 10 years

Credit Quality Distribution as of 05/29/2020

Rating Assets
AA
A
BBB
<BBB
Not Rated

Portfolio Positioningas of 03/31/2020

  • The portfolio maintained an overweight positioning in Latin America. We believe the outlook remains favorable for the region, as economic reforms in key countries in Latin America are translating into stronger economic growth.
  • We believe the coronavirus outbreak’s implication to emerging markets countries in Asia depends on their respective exposures to natural resources exports, tourism, and the local COVID-19 situations.
  • Within China, government support is focused on alleviating financial pressure on companies via targeted tax cuts and preferential lending. Additionally, the government is seeking to incentivize personal consumption by increasing subsidies and relaxing certain purchase restrictions.
  • We believe China’s increased investments in the technology and infrastructure sectors will benefit raw materials and intermediate goods suppliers in EM Asia.
  • Argentina and Brazil continue to face fiscal issues. Bondholders of Argentine debt rejected a proposed restructuring deal which pointed to recovery values of 30-32 cents. Political uncertainty in Brazil continues to play a key role in the country’s outlook.

Portfolio Details as of 05/29/2020

Total Net Assets
$56.24 M
Number of Issues
211
Average Coupon
5.26%
Average Life
9.05 Years
Average Maturity
8.92 Years
Average Modified Duration
5.4 Years

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For
YTD Dividends Paidas of 
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 05/31/2020 $0.04447 $14.48
Daily Daily 04/30/2020 $0.04822 $13.92
Daily Daily 03/31/2020 $0.04917 $13.37
Daily Daily 02/29/2020 $0.04614 $15.49
Daily Daily 01/31/2020 $0.04692 $15.64

Upcoming Dividend Payment Dates

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 07/31/2020
Daily Daily 08/31/2020
Daily Daily 09/30/2020
Daily Daily 10/31/2020
Daily Daily 11/30/2020
Daily Daily 12/31/2020

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
07/30/2018 07/31/2018 - $0.0292 $0.0292 $14.77

Upcoming Capital Gain Distribution

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

Record Date Ex-Dividend Date
07/30/2020 07/31/2020

Fees & Expenses

Fees & Expenses

Fund Documents

Fund Documents

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Summary Prospectus
Publish Date:11/03/2015
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Statutory Prospectus
Publish Date:11/03/2015
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Prospectus (XBRL)
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015
Publish Date:11/03/2015

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Class R2 - The performance quotations for Class R2 reflect the following methods of calculation: (a) for periods prior to the inception date for Class R2, a restated figure is used based on the Fund's Class A performance, excluding the effect of Class A's maximum sales charge (which does not apply to Class R2) adjusted to reflect the Rule 12b-1 rate differential between Class A and Class R2, which has a higher 12b-1 fee than Class A; and (b) for periods after the inception date for Class R2, actual Class R2 performance is used reflecting all charges and fees applicable to Class R2 shares. Hypothetical performance data for Class R2, as measured from since inception of the Fund using the methodology described above, is not available if the Class A inception date is equal or greater than ten years old. Please refer to the Class R2 performance information for the inception date for Class R2. Please refer to the Class A performance information for the inception date for Class A.

Class R2 shares are only offered to certain eligible investors. For additional information, see the Fund’s current prospectus.

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