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TCW Emerging Markets Local Currency Income Fund
LU0905645361
CLASS IU (USD)
100.00 11/04/2013
Emerging markets diversified fixed income management in local currency
The objective of the Sub-Fund (“Fund”) is to seek high total return provided by current income, foreign exchange gains and capital appreciation by investing
mainly in fixed income securities and instruments denominated in the local currency of various emerging market countries. The Fund primarily invests in sovereign and corporate bonds denominated in the local currency of emerging market countries. The Fund seeks to identify and exploit fixed income opportunities that arise in emerging markets in the course of the economic development process. This process typically involves the adoption of orthodox economic reforms, paving the way for macroeconomic stability, higher relative growth rates, improving living standards, deepening linkages to global markets, and strengthening credit fundamentals.
There are a number of global factors that affect the value of securities in the strategy, including, but not limited to, commodity prices, economic growth,
interest rate levels, and risk appetite. The portfolio managers control position size, aggregate issuer exposure, country weights, currency allocation, credit
quality, and duration to seek to ensure that the Fund’s portfolio is sufficiently diverse to limit its correlation to specific risk factors.
Penelope
Foley
Group MD
PM Emerging Markets
Alex
Stanojevic
Group MD
PM Emerging Markets
David
Robbins
Group MD
PM Emerging Markets
Potentially lower rewards
Potentially higher rewards
PERFORMANCE
Historical monthly returns (in %)
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | YTD | |
| 2021 | -1.4 | -2.6 | -3.1 | 2.2 | 2.4 | -1.1 | -0.7 | 1.0 | -3.8 | -7.1 | |||
| 2020 | -1.6 | -3.3 | -13.0 | 4.1 | 6.1 | 0.3 | 2.8 | -0.3 | -2.5 | 0.7 | 6.0 | 3.8 | 1.4 |
| 2019 | 5.5 | -0.9 | -1.9 | -0.1 | 0.3 | 5.9 | 0.9 | -3.8 | 1.5 | 2.9 | -1.9 | 4.3 | 12.8 |
| 2018 | 4.6 | -1.2 | 0.8 | -3.6 | -4.9 | -3.0 | 1.7 | -6.3 | 2.4 | -2.2 | 2.7 | 0.8 | -8.5 |
| 2017 | 2.3 | 2.3 | 2.3 | 1.0 | 1.4 | 0.6 | 2.2 | 1.9 | -0.4 | -2.9 | 2.0 | 2.1 | 16.0 |
| 2016 | -0.4 | 0.6 | 9.6 | 2.9 | -5.4 | 6.3 | 0.9 | 0.2 | 2.3 | -0.4 | -7.5 | 2.5 | 11.0 |
| 2015 | 1.7 | -1.6 | -3.1 | 2.4 | -2.3 | -1.0 | -2.4 | -4.9 | -2.8 | 3.8 | -2.5 | -2.4 | -14.4 |
| 2014 | -4.8 | 3.0 | 2.7 | 0.1 | 2.3 | 0.8 | -1.4 | 0.7 | -5.0 | 1.6 | -0.6 | -5.2 | -6.2 |
| 2013 | 0.5* | -6.2 | -4.6 | 0.6 | -3.2 | 3.8 | 2.4 | -3.8 | -0.2 | -10.5 |
*Since inception (April 11th 2013) to December 31st 2013.
Figures based on month-end NAVs
Statistics (in %) as of 30 sep 2021
| Performance | Risk | |||||||
| 1M | 3M | 6M | 1Y | 3Y | Since inception | Annualized volatility | Max DD | |
| Fund | -3.8 | -3.6 | -0.2 | 2.9 | 7.6 | -10.0 | 11.8 | -28.8 |
First NAV : 11Apr2013 – NAV at inception : USD 100.
All figures based on month-end NAVs. Risk data calculated since inception.
Information
| Fund Type | Luxembourg SICAV – UCITS |
| Income treatment | Accumulation / Distribution, according to classes |
| Launch date | 11 April 2013 |
| Base currency | USD |
| Available currencies | USD EUR, GBP, CHF (hedged & unhedged) |
| Manager | TCW Investment Management Company LLC www.tcw.com |
| Quotation (NAV calcultation) | Daily (business days) |
| Administrator | Société Générale, Luxembourg Branch |
| Subscription/Redemption | Day D, cut-off 10pm CET |
| Management fee | 0.70% p.a. for class I 1.50% p.a. for class A |
| Performance fee | None |
| Min. initial investment | Class A : None Class I : USD 1 mio or equivalent |
| Lock-up | None |
| Commercial fees (entry/exit) | None |
| Custodian bank | Société Générale, Luxembourg Branch |
| Auditors | Deloitte Audit |
| Swiss legal representative | Acolin Fund Services AG |
| Registration for distribution | AT, BE, CH, DE, FR, GB, IT, LU (as per shares) – Contact us |
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