Emerging Markets Local Debt UCITS Fund

Special Notice

Oppenheimer Funds was acquired by Invesco Ltd on 24th May. The Investment Manager of the Oppenheimer Funds ICAV has changed to Invesco Advisers Inc, however the day to day management of the funds, the investment objectives, investment approach, processes and fees remain unchanged. Further information with respect to the long term plans for the Oppenheimer Funds ICAV were communicated on 16th May and the following frequently asked questions document to explain the transaction is also available for clients. Further documentation and information will follow in June. If you have any questions please contact your local client service representative.

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Overview
NAV
(as of 07/19/2019)
€109.21
Daily Change
(as of 07/19/2019)
€0.58
0.53%

The investment objective of the Fund is to seek capital appreciation in addition to the generation of income.

Total Assets
(as of 05/31/2019)
€113.30 Million
Number of Issuers
(as of 05/31/2019)
57
Inception Date
October 2, 2017
ISIN
IE00BF23SQ39
Morningstar Category
Global Emerging Markets Bond - Local Currency
Base Currency
EUR
Dealing
Daily by 2PM Irish Time
Custodian
BBH Trustee Services (Ireland) LTD
Administrator
BBH Administrator Services (Ireland) LTD
Performance
Average Annual Total Returns
Calendar Year Returns
as of 05/31/2019
as of


Cumulative
Annualized
1 mo 3 mo ytd as of 2019-05-31
1 yr since inception
Emerging Markets Local Debt UCITS Fund L2D (NAV)
0.78% 1.30% 6.53% 5.14% 1.17%
J.P. Morgan GBI-EM Global Diversified Index - EUR
0.87% 0.95% 5.71% 5.11% 3.65%

Performance data quoted represents past performance, which does not guarantee future results. Current performance may be higher or lower than the performance quoted. Performance data quoted does not include the Fund’s maximum 5% front-end sales charge. Had it been included, the Fund’s returns would have been lower. Performance shown reflects the management fee. All performance shown assumes reinvestment of dividends and capital gains distributions. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. Returns for periods of less than one year are not annualized. The Fund is newly-organized and has a limited performance history. 

Historical Returns: OFI Global Emerging Markets Local Bond (Composite)
Cumulative
Annualized
3 mo ytd as of 2019-05-31
1 yr 3 yr 5 yr since inception
OFI Global Emerging Markets Local Bond (Composite)
1.44% 6.91% 5.62% 4.83% 4.50% 4.95%
J.P. Morgan GBI-EM Global Diversified Index - EUR
0.95% 5.71% 5.11% 4.33% 2.76% 3.65%

Year OFI Global Emerging Markets Local Bond (Composite) J.P. Morgan GBI-EM Global Diversified Index - EUR
2014 7.86% 7.37%
2015 -1.52% -5.23%
2016 16.09% 13.23%
2017 1.08% 1.20%
2018 -2.50% -1.48%

Performance data quoted represents past performance, which does not guarantee future results. Current performance may be higher or lower than the performance quoted. Performance data quoted does not include the Fund’s maximum 5% front-end sales charge. Had it been included, the Fund’s returns would have been lower. Performance shown reflects the management fee. All performance shown assumes reinvestment of dividends and capital gains distributions. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. Returns for periods of less than one year are not annualized. The Fund is newly-organized and has a limited performance history. 

$ per share as of

Date
Short Term
Long Term
Total Amount of Distribution
Record Date
Ex Div Date
Pay Date
Holdings
(As of 05/31/2019)
Top Countries
Fund
Fund Index
Indonesia
11.2%
9.9%
Colombia
9.3%
7.0%
South Africa
9.1%
8.6%
Mexico
8.6%
10.0%
Brazil
8.2%
10.0%
Poland
6.5%
9.0%
India
5.9%
-
Thailand
4.5%
8.6%
Russia
4.4%
7.9%
Hungary
3.8%
4.2%
Portfolio Positioning
Fund
Fund Index
Emerging Markets Local Currency
93.0%
-
Net Cash and Equivalents
7.0%
-
Top Currency Positions
Fund
Fund Index
Indonesian Rupiah
12.0%
9.9%
Brazilian Real
11.7%
10.0%
Mexican Peso
11.1%
10.0%
Thai Baht
10.8%
8.6%
Polish Zloty
10.1%
9.0%
Russian Ruble
9.4%
7.9%
South African Rand
8.6%
8.6%
Colombian Peso
7.8%
7.0%
Chilean Peso
5.5%
3.4%
Malaysian Ringgit
5.3%
6.2%
Analytics
(As of 05/31/2019)

Performance Statistics (Composite)
3Y
5Y
Alpha
0.55
1.75
Beta
0.98
0.97
Information Ratio
0.30
0.73
R-Squared
95.51
93.33
Sharpe Ratio
0.47
0.43
Standard Deviation
7.71
9.23
Upside Capture
103.00
105.00
Downside Capture
99.00
90.00
Tracking Error
1.65
2.40
Yields
Portfolio Characteristics
Fund
Fund Index
Average Effective Maturity
8.41 yrs
-
Current Duration
5.29 yrs
-
Dividends
Est. Frequency
Monthly
Team
Documents
  1. 1. Investments are subject to market risk and volatility. Fixed income investing entails credit and interest rate risks. Interest rate risk is the risk that rising interest rates or an expectation of rising interest rates in the near future will cause the values of the Fund's investments to decline.  When interest rates rise, bond prices generally fall, and the Fund’s share prices can fall. Below-investment-grade (“high yield” or “junk”) bonds are more at risk of default and are subject to liquidity risk.Cross border investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks.  Emerging and developing market investments may be especially volatile. May invest in debt securities that are economically tied to emerging market countries and denominated in local (non-U.S.) currencies. The Fund may invest a significant portion of assets in a single issuer, which may increase volatility and exposure to risks associated with a single issuer. Derivative instruments entail higher volatility and risk of loss compared to traditional stock or bond investments. 
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