ABN AMRO Asset Management has launched a euro-hedged version of its Luxembourg ABN AMRO global Emerging Markets Bond fund.
This fund provides euro investors the opportunity to capitalise on the performance of emerging markets bonds without being exposed to currency risk.
The Global Emerging Markets Bond fund (euro) will be managed in the same way as the Global Emerging Markets Bond fund (US dollar) that was launched in May 1998. The fund applies a combination of top-down and bottom-up analysis to determine risk/ reward positioning.
The result is a combination of strategies ranging from regional views to country and specific bond views, in which the degree of importance of top-down and bottom-up assessments will depend on global and country conditions.
It is benchmarked to the JP Morgan EMBI Global benchmark. Julian Ide, head of mutual funds at ABN Amro, said: 'ABN AMRO Global Emerging Markets Bond fund gives investors additional choice when investing in emerging markets bond funds. Most emerging markets bonds are denominated in US dollars. Hedging this US dollar exposure to euro will reduce volatility for euro investors and thereby increase the attractiveness of this new fund.'
The issue price of the ABN AMRO Global Emerging Markets Bond fund (euro) is E50, the minimum subscription is E250 and the annual management fee is 1%.
Slow progress in improving diversity
Share purchase deal with assets of £28m
Came into effect in January
Three examples of compensation rule issues
Buying in baskets