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Global Debt

Emerging Markets Local Debt Fund

The strategy uses top down macro and bottom up country analyses to invest across local currency emerging market sovereign debt.

Investment Style
Emerging Markets Debt
Fund Inception
June 30, 2010
Total Assets (all classes) (as of 6/30/2017)
$132 million
Fund Index
JPM GBI EM Global Diversified
NAV (as of 7/27/17)
  • A
$7.50

Equity

Fixed Income

Municipal Bond
performance
analytics
holdings
as of 6/30/2017
  • E
as of 6/30/2017
  • E

Sales charges are not applicable to Y & I Share Classes.
Cumulative
Annualized
3 mo ytd as of 7/27/17
  • C
1 yr 3 yr 5 yr since inception
Emerging Markets Local Debt Fund (NAV)
2.41% 12.59% 8.45% -0.24% 0.71% 2.41%
Cumulative
Annualized
3 mo ytd as of 7/27/17
  • C
1 yr 3 yr 5 yr since inception
Emerging Markets Local Debt Fund (NAV)
2.41% 12.59% 8.45% -0.24% 0.71% 2.41%
Gross Expense Ratio: 1.30% | Net Expense Ratio: 0.95%

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price and reinvested distributions. Class Y shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment.


Year Emerging Markets Local Debt Fund JPM GBI EM Global Diversified
2010 0.00% -
2011 -2.33% 0.98%
2012 18.17% 17.03%
2013 -9.52% -7.83%
2014 -5.18% -5.72%
2015 -11.78% -14.92%
2016 12.17% 9.94%

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price and reinvested distributions. Class Y shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment.


Date Emerging Markets Local Debt Fund JP Morgan GBI EM Global Diversified (Linked Index) BBG Barclays Agg
6/30/2012 0.00 0.00 0.00
7/31/2012 2.82 2.68 1.38
8/31/2012 3.62 2.97 1.45
9/30/2012 5.53 5.36 1.58
10/31/2012 6.78 6.03 1.78
11/30/2012 7.75 7.45 1.95
12/31/2012 10.19 9.30 1.80
1/31/2013 10.42 9.41 1.09
2/28/2013 9.70 9.07 1.60
3/31/2013 8.82 8.47 1.68
4/30/2013 11.53 12.03 2.71
5/31/2013 7.13 5.92 0.87
6/30/2013 1.51 1.30 -0.69
7/31/2013 1.50 1.27 -0.55
8/31/2013 -2.55 -2.40 -1.06
9/30/2013 1.27 1.37 -0.12
10/31/2013 3.38 4.17 0.68
11/30/2013 -0.73 0.98 0.31
12/31/2013 -0.62 0.74 -0.26
1/31/2014 -6.00 -3.92 1.21
2/28/2014 -3.15 -0.15 1.75
3/31/2014 -0.84 2.65 1.58
4/30/2014 0.38 3.57 2.44
5/31/2014 2.63 5.72 3.60
6/30/2014 3.62 6.78 3.66
7/31/2014 2.18 5.65 3.40
8/31/2014 2.50 6.16 4.54
9/30/2014 -2.76 0.74 3.83
10/31/2014 -0.55 2.31 4.85
11/30/2014 -1.02 0.97 5.59
12/31/2014 -6.05 -5.01 5.69
1/31/2015 -4.00 -4.70 7.91
2/28/2015 -5.79 -5.98 6.89
3/31/2015 -8.94 -8.78 7.39
4/30/2015 -7.35 -6.12 7.00
5/31/2015 -9.16 -8.54 6.75
6/30/2015 -10.61 -9.65 5.58
7/31/2015 -11.39 -11.97 6.32
8/31/2015 -13.84 -16.70 6.16
9/30/2015 -17.02 -19.18 6.88
10/31/2015 -14.49 -15.52 6.90
11/30/2015 -15.57 -17.34 6.62
12/31/2015 -17.36 -19.18 6.27
1/31/2016 -16.92 -18.90 7.73
2/29/2016 -16.34 -17.73 8.50
3/31/2016 -8.87 -10.28 9.49
4/30/2016 -5.70 -7.97 9.91
5/31/2016 -10.33 -12.98 9.94
6/30/2016 -5.71 -7.85 11.92
7/31/2016 -4.79 -7.30 12.63
8/31/2016 -4.67 -7.26 12.50
9/30/2016 -2.83 -5.39 12.43
10/31/2016 -3.26 -6.19 11.57
11/30/2016 -9.54 -12.78 8.93
12/31/2016 -7.59 -11.15 9.09
1/31/2017 -5.00 -9.15 9.30
2/28/2017 -3.03 -7.51 10.03
3/31/2017 -0.50 -5.37 9.98
4/30/2017 0.42 -4.27 10.82
5/31/2017 1.35 -2.39 11.68
6/30/2017 1.98 -1.95 11.57
Date Dividends
7/31/2012 0.0472
8/31/2012 0.0534
9/28/2012 0.0436
10/31/2012 0.0489
11/30/2012 0.0488
12/28/2012 0.0437
1/31/2013 0.0455
2/28/2013 0.0418
3/28/2013 0.0464
4/30/2013 0.0476
5/31/2013 0.0459
6/28/2013 0.0399
7/31/2013 0.0421
8/30/2013 0.0441
9/30/2013 0.0367
10/31/2013 0.0434
11/29/2013 0.0435
12/30/2013 0.0414
1/31/2014 0.0458
2/28/2014 0.0341
3/31/2014 0.0435
4/30/2014 0.0434
5/30/2014 0.0468
6/30/2014 0.0419
7/31/2014 0.0421
8/29/2014 0.041
9/30/2014 0.0338
10/31/2014 0.0381
11/28/2014 0.0306
12/31/2014 0.0786
1/30/2015 0.0312
2/27/2015 0.0261
3/31/2015 0.0287
4/30/2015 0.0292
5/29/2015 0.0362
6/30/2015 0.0372
7/31/2015 0.0457
8/31/2015 0.0429
9/30/2015 0.043
10/30/2015 0.0451
11/30/2015 0.0409
12/31/2015 0.043
1/29/2016 0.0386
2/29/2016 0.0392
3/31/2016 0.0418
4/29/2016 0.0387
5/31/2016 0.0777
6/30/2016 0.0815
7/29/2016 0.0849
8/31/2016 0.0712
9/30/2016 0.0644
10/31/2016 0.0689
11/30/2016 0.0632
12/30/2016 0.0696
1/31/2017 0.045
2/28/2017 0.0379
3/31/2017 0.0392
4/28/2017 0.0389
5/31/2017 0.0397
6/30/2017 0.0368

There is no guarantee of the payment of any dividend or other distributions at any level.

The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price and reinvested distributions. Class Y shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment.

$ per share as of 7/28/2017

Date 2012 2013 2014 2015 2016
Short Term
Long Term 0.1511
Total Amount of Distribution 0.1511
Record Date 12/30/13
Ex Div Date 12/30/13
Pay Date 12/30/13

There is no guarantee of the payment of any dividend or other distributions at any level.

Analytics

(As of 6/30/2017)

Morningstar 6/30/2017 (based on risk adjusted performance)
Overall Rating
Number of Funds
81
Category
Emerging-Markets Local-Currency Bond
Performance Statistics
3Y
5Y
Alpha
2.24
1.04
Information Ratio
0.88
0.43
Sharpe Ratio
0.01
0.10
R-Squared
94.03
94.26
Standard Deviation
10.79
10.22
Sortino Ratio
0.00
0.04
Beta
0.89
0.92
Tracking Error
2.91
2.60
Dividends
  • D
Est. Frequency
Monthly
Last Pay Date
6/30/2017
Per Share ($)
$0.04
Net Income
100.00%
Net Profit from Sale
0.00%
Other Capital Sources
0.00%
12-Month Distribution ($)
$0.66
Portfolio Characteristics
Fund
Fund Index
Yield to Maturity
6.57%
6.06%
Yield to Worst
6.56%
6.06%
Average Effective Maturity
8.31 yrs
-
Current Duration
5.60 yrs
5.10 yrs
Average Coupon
13.20%
-
Turnover Ratio
108.00%
-
Yields
Dividend Yield (w/o sales charge)
6.06%
Standardized Yield
6.11%

Top Strategies

(100.0% of assets as of 06/30/17)


Portfolio Holdings Breakdown

Country 6
Developed Markets 6
Emerging Markets 6
Credit Rating Allocation 7
Currency 6 8
Country Emerging Markets Local Debt Fund JPM GBI EM Global Diversified Overweight / Underweight
Brazil 13.6% 10.0% 3.6%
Mexico 12.8% 10.0% 2.8%
Russia 11.5% 6.3% 5.2%
South Africa 8.8% 8.5% 0.3%
Indonesia 7.7% 9.8% -2.1%
Turkey 7.0% 8.0% -1.0%
Peru 5.0% 2.3% 2.7%
Colombia 5.0% 7.3% -2.3%
Poland 4.8% 9.5% -4.7%
Hungary 3.3% 4.5% -1.3%
Thailand 2.8% 7.5% -4.7%
Chile 2.7% 1.9% 0.9%
Argentina 2.7% 1.2% 1.5%
Malaysia 1.7% 6.6% -4.9%
Romania 1.3% 2.9% -1.6%
Uruguay 1.1% - -
Egypt 1.0% - -
China 0.5% - -
Nigeria 0.4% - -
India 0.4% - -
Developed Markets Emerging Markets Local Debt Fund JPM GBI EM Global Diversified Overweight / Underweight
Middle East 0.4% - -
Emerging Markets Emerging Markets Local Debt Fund JPM GBI EM Global Diversified Overweight / Underweight
Americas 43.4% 32.7% 10.7%
Europe 28.2% 34.6% -6.4%
Asia Pacific 13.2% 24.2% -11.0%
Africa 10.6% 8.5% 2.1%
Credit Rating Allocation Emerging Markets Local Debt Fund JPM GBI EM Global Diversified Overweight / Underweight
BBB 42.3% 38.1% 4.2%
A 23.0% 33.3% -10.3%
BB 16.1% 9.0% 7.1%
Unrated 8.2% 16.5% -8.3%
B 5.9% 1.2% 4.7%
AA 0.3% 1.8% -1.5%
Currency Emerging Markets Local Debt Fund JPM GBI EM Global Diversified Overweight / Underweight
Mexican Peso 12.0% 10.0% 2.0%
Brazilian Real 11.2% 10.0% 1.2%
Russian Ruble 10.5% 6.3% 4.2%
US Dollar 9.4% - -
South African Rand 8.8% 8.5% 0.3%
Indonesian Rupiah 7.7% 9.8% -2.1%
Turkish New Lira 6.2% 8.0% -1.8%
Colombian Peso 5.0% 7.3% -2.3%
Polish Zloty 4.8% 9.5% -4.7%
Peruvian New Sol 4.6% 2.3% 2.3%
Hungarian Forint 3.3% 4.5% -1.3%
Thai Baht 2.8% 7.5% -4.7%
Chilean Peso 2.5% 1.9% 0.6%
Argentine Peso 1.9% 1.2% 0.7%
Malaysian Ringgit 1.7% 6.6% -4.9%
Romanian New Leu 1.3% 2.9% -1.6%
Peso Uruguayo 1.1% - -
Egyptian Pound 1.0% - -
  1. 1. Special Risks 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. Risks associated with rising interest rates are heightened given that rates in the U.S. are at or near historic lows. 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. Foreign 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 at least 80% of its net assets in debt securities that are economically tied to emerging market countries and denominated in local (non-U.S.) currencies. Eurozone investments may be subject to volatility and liquidity issues. 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.
  2. 2. The net expense ratio (where applicable) also takes into account contractual fee waivers and/or expense reimbursements without which performance would have been less. These undertakings may not be amended or withdrawn for one year from the date of the current prospectus, unless approved by the Board.
  3. 3. Access index definitions.
  4. 4. The dividend (or distribution) yield is based on the pay date immediately preceding the nearest month-end or quarter-end. The dividend yield for each share class is calculated by annualizing the dividend distributed by the class on that date and dividing that figure by the class's net asset value on that date. For the Class A dividend yield with sales charge, the annualized Class A dividend distribution is divided by the Class A maximum offering price on that date. Each result is compounded semiannually and annualized. Falling share prices artificially increase yields.
  5. 5. Standardized yield for each share class is based on an SEC standardized formula designed to approximate a Fund's annualized hypothetical current income from securities less expenses for the 30-day period ending and including the most recent month-end or quarter-end and either that date's maximum offering price (Class A shares) or net asset value (for other share classes). The month-end figure is typically calculated on the fifth business day of the next month. The result is compounded semiannually and annualized. Falling share prices artificially increase yields.
  6. 6. Holdings are subject to change, and are dollar weighted based on total net assets. Negative weightings may result from the use of leverage. Leverage involves the use of various financial instruments or borrowed capital in an attempt to increase investment return. Leverage risks include potential for higher volatility, greater decline of the fund's net asset value and fluctuations of dividends and distributions paid by the fund.
  7. 7. If included in the credit rating breakdown table above, all securities except for those labeled "Treasury", "Agency," and "Unrated," have been rated by at least one Nationally Recognized Statistical Rating Organization ("NRSRO"), such as S&P Global Ratings ("S&P"). For securities rated only by an NRSRO other than S&P, OppenheimerFunds converts that rating to the equivalent S&P rating. If two or more NRSROs have assigned a rating to a security, the highest S&P equivalent rating is used. Unrated securities do not necessarily indicate low credit quality, and may or may not be the equivalent of investment-grade. "Investment-grade" securities are securities rated within the NRSROs four highest rating categories, which include AAA, AA, A and BBB. Please consult the Fund's Prospectus and Statement of Additional Information for further information.
  8. 8. The table for the top currency positioning is based on the net foreign exchange exposure of each currency after converting all currencies to a common currency, in this case the U.S. dollar.
  9. 9. For Share Classes with less than a one-year track record, expense ratios are estimated based on the Manager's projections of those expenses for the coming fiscal year.
  10. A. Daily net asset value and dollar change of the fund is as of the previous business day's closing. Fund net asset values are updated at approximately 7:00pm ET daily. ↩
  11. B. The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price, reinvested distributions and a 4.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment. ↩
  12. C. "Year to Date" returns are cumulative, not annualized, and do not reflect sales charges (if sales charges are applicable to the Fund). These returns would be lower if sales charges were taken into consideration. Short-term returns may not be indicative of longer-term performance, which should also be considered when making investment decisions. ↩
  13. D. There is no guarantee of the payment of any dividend or other distributions at any level. ↩
  14. E. The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price and reinvested distributions. Class Y shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment. ↩
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