JPMorgan Funds - Emerging Markets Local Currency Debt Fund D (acc) - USD
JPMorgan Funds (SICAV domiciled in Luxembourg)
Key Information
Legal Documents

Fund Profile

Category: SICAV

To achieve a return in excess of government bond markets of emerging markets countries by investing primarily in emerging market local currency debt securities, using derivatives where appropriate. Investment approach B Uses a globally integrated research driven investment process that focuses on analysing fundamental, quantitative and technical factors across countries, sectors and issuers. B Combines top-down decision making – including country allocation, duration management and currency exposure – with bottom-up security selection. Share Class Benchmark J.P. Morgan Government Bond Index - Emerging Markets Global Diversified (Total Return Gross) Benchmark uses B Performance comparison. The Sub-Fund may bear little resemblance to the benchmark. B Basis for relative VaR calculations. POLICIES Main investment exposure At least 67% of assets invested, either directly or through derivatives, in debt securities issued or guaranteed by emerging market governments or their agencies and by companies that are domiciled, or carrying out the main part of their economic activity, in an emerging market country. Investments may be dominated in any currency however at least 67% will be denominated in an emerging market currency. The Sub- Fund may have significant positions in specific countries, sectors or currencies which may be concentrated from time to time. Although derivatives may be denominated in EUR or USD, they may have exposure to emerging market currencies. There are no credit quality or maturity restrictions applicable to the investments. Other investment exposures Up to 5% in contingent convertible bonds. Derivatives Used for: investment purposes; hedging; efficient portfolio management. Types: see Sub-Fund Derivatives Usage table under How the Sub-Funds Use Derivatives, Instruments and Techniques in the Prospectus. TRS including CFD: none. Global exposure calculation method: relative VaR. Expected level of leverage from derivatives: 350% indicative only. Leverage may significantly exceed this level from time to time. Currencies Sub-Fund Base Currency: USD. Currencies of asset denomination: any. Hedging approach: flexible. Redemption and Dealing Shares of the Sub-Fund may be redeemed on demand, with dealing normally on a daily basis. Distribution Policy This Share Class does not pay dividends. Earned income is retained in the NAV. For an explanation of some of the terms used in this document, please visit the glossary on our website at

Morningstar Rating
More information about the calculation of the Morningstar Ratings
Risk and reward profile
Lower Risk
Possible Lower
Higher Risk
Possible Higher
Key Information
Closing Price 25/09/202015.11
Morningstar categoryGlobal Emerging Markets Bond - Local Ccy
Distribution statusAccumulating
Inception Date24/01/2008
Minimum initial amount5,000.00 USD
Fees And Charges
Entry feeNone
Custody feeNone
Exit feeNone
Ongoing charge1.81% of which none is paid to MeDirect
Fund management company
AddressJPMorgan Asset Management (Europe) S.à r.l. European Bank & Business Centre 6, route de Trèves Luxembourg L-2633 Luxembourg
Manager NameDidier Lambert
Manager Start Date19/10/2009
Total Net Assets (mil)1,849.79 USD (31/08/2020)
AdministratorJPMorgan Asset Management (Europe) S.à r.l.


en 01/07/2020
Annual Report
en 30/06/2019
Semi Annual Report
en 31/12/2019
Morningstar Report


Historical returns are no guarantee for future performances. Investing in Financial markets and securities involves risk. Past performance is not a guarantee of future results. Investment losses may occur and investors could lose some or all of their investment in the Fund.
Entry fees, purchase charges, custody fees, exit fees, sale charges and taxes are not included in the calculation of past performance. Ongoing charges (including management fees, administrative fees and other costs) have been taken in to account, as they are already included in the price/NAV of the fund.
The performance in euro can be lower or higher than the performance in the currency of denomination of the fund due to fluctuations in exchange rates.
Annualised performance in USD
PeriodAnnualised returnDate
1 year-3.70%25/09/2020
3 years-2.30%25/09/2020
5 years2.66%25/09/2020
10 years-1.29%25/09/2020
Since launch0.21%25/09/2020
Cumulative performance in USD
YTD 01/01/2020-7.70
1 month-1.69
3 months-0.53
6 months13.69
Quarterly Returns
Q 1Q 2Q 3Q 4

Asset Allocation
% Long% Short% Net Assets
Return/Risk Analysis
Risk Measurement1 Year3 Years5 Years
Standard Deviation
Sharpe Ratio
Sortino Ratio
Positive Months6.0017.0034.00
Negative Months6.0019.0025.00
Worst Month-11.98-11.98-11.98
World Regions
No Data Available
Stock Sector Weighting
No Data Available
Top 10 Holdings
HoldingSectorCountry% of Assets
JPM USD Liquidity LVNAV X (dist.) 31/12/2049Luxembourg5.52
Indonesia (Republic of) 9% 15/03/2029Indonesia3.54
Republic of Chile 4.5% 01/03/2026Chile2.67
Republic of Colombia 6% 28/04/2028Colombia2.57
Brazil (Federative Republic) 15/08/2022Brazil2.49
Poland (Republic of) 2.75% 25/10/2029Poland2.00
Mexico (United Mexican States) 29/05/2031Mexico1.91
Indonesia (Republic of) 8.38% 15/09/2026Indonesia1.78
Secretaria Tesouro Nacional 10% 01/01/2025Brazil1.62
Thailand (Kingdom Of) 3.78% 25/06/2032Thailand1.58
Classification of Morningstar Category
Ranking1 Year2 Years3 Years5 Years
Top 25%
Category above the average
Category below the average
Bottom 25%
Morningstar Style Box
Fixed Income Style
Interest Rate Sensitivity
Credit Quality
Closing Price
All key information and documents must be reviewed before being able to Invest.