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Morningstar

Ashmore Emerging Mkts Corp Inc Instl EMCIX

Morningstar Analyst Rating
Analyst rating as of
  • NAV / 1-Day Return 5.85  /  0.06 %
  • Total Assets 96.2 Mil
  • Adj. Expense Ratio
    1.010%
  • Expense Ratio 0.870%
  • Distribution Fee Level Above Average
  • Share Class Type Institutional
  • Category Emerging Markets Bond
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 1,000,000
  • Status Open
  • TTM Yield 9.92%
  • Effective Duration —

USD | NAV as of Jan 27, 2023 | 1-Day Return as of Jan 27, 2023, 11:44 PM GMT+00:00

Morningstar’s Analysis EMCIX

Will EMCIX 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 EMCIX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the EMCIX 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 EMCIX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Not worth the risk.

Analyst

Summary

| by Saraja Samant

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.

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