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Morningstar

Ashmore Emerging Mkts Corp Inc C ECDCX

Morningstar Medalist Rating
Medalist Rating as of | See Ashmore Investment Hub
  • NAV / 1-Day Return 5.13  /  0.23 %
  • Total Assets 80.4 Mil
  • Adj. Expense Ratio
    2.010%
  • Expense Ratio 1.870%
  • Distribution Fee Level Average
  • Share Class Type Level Load
  • Category Emerging Markets Bond
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 1,000
  • Status Open
  • TTM Yield 7.73%
  • Effective Duration —

USD | NAV as of Jun 09, 2023 | 1-Day Return as of Jun 09, 2023, 11:11 PM GMT+0

Morningstar’s Analysis ECDCX

Will ECDCX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable ECDCX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the ECDCX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of ECDCX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Not worth the risk.

Analyst Saraja Samant

Saraja Samant

Analyst

Summary

The management team behind Ashmore Emerging Markets Corporate Income is experienced but executes a highly flexible and aggressive approach to building this portfolio. It allows for hefty doses of credit risk and significant deviations from the strategy’s benchmark, which hasn’t resulted in obvious advantages over the long term. That warrants a Process Pillar rating downgrade to Below Average from Average, leading to a Morningstar Analyst Rating of Neutral for the strategy’s cheapest share class and a downgrade to Negative for the more-expensive share classes.

by Saraja Samant
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings ECDCX

More ECDCX Holdings
  • Current Portfolio Date
  • Equity Holdings 2
  • Bond Holdings 218
  • Other Holdings 22
  • % Assets in Top 10 Holdings 13.4
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

Cash

9.60
8,515,728
Cash and Equivalents

Petroleos de Venezuela SA 8.5%

2.09
1,849,250
Government

Puma International Financing S.A. 5%

1.80
1,597,469
Corporate

Teva Pharmaceutical Finance Netherlands III B.V. 6.75%

1.69
1,500,165
Corporate

International Airport Finance SA 12%

1.33
1,179,967
Corporate

DP World Salaam 6%

1.15
1,022,405
Corporate

DNO ASA 7.875%

1.15
1,021,900
Corporate

Mc Brazil Downstream Trading Sarl 7.25%

1.13
1,006,303
Corporate

Teva Pharmaceutical Finance Company LLC 6.15%

1.12
989,753
Corporate

C&W Senior Financing Designated Activity Company 6.875%

1.01
894,574
Corporate