Download EMERGING MARKET CORPORATE BOND FUND

Henderson
Horizon
EMERGING MARKET
CORPORATE BOND FUND
31 January 2016
Fund Details:
Launch date:
November 2014
Fund size:
US$56.34m
Fund Manager:
Steve Drew
Benchmark:
JP Morgan Corporate
Emerging Market Bond
Index (CEMBI) Broad
Diversified
NAV (USD):
A2: 102.54
Subscription mode:
Cash
Minimum investment:
US$ 2,500
Trading Frequency:
Daily
Base currency:
USD
Fee Structure:
Initial charge:
Up to 5%
Annual management fee:
1.0% pa
Performance fee:
10% of the relevant amount
Investors should refer to the
prospectus of the Fund for
full details on fee structure.
Fund Codes (A2):
ISIN: LU1120394736
Bloomberg: HECA2AU LX
Published NAV:
•Bloomberg
•The Business Times
•www.henderson.com/sg
About the fund
The investment objective of the Henderson Horizon Fund – Emerging Market Corporate
Bond Fund (the “Fund”) is to provide a total return in excess of that generated by the
designated benchmark, by investing primarily in emerging market corporate bonds and
other fixed and floating rate securities. The Fund may invest up to 50% of its net assets
in non-investment grade securities including up to 20% of its net assets in distressed
debt securities. The Fund may make use of a variety of instruments / strategies in order
to achieve the Fund’s objective including, but not limited to, forward foreign exchange
contracts (including non-deliverable forwards), interest rate futures, bond futures, options
and OTC swaps such as interest rate swaps, credit default swaps, credit default swaps on
indices.
Performance as at January 2016 in USD (%)*
3 mths 6 mths
The Fund
The Fund (with sales charge)**
Benchmark
-1.1
-6.1
-2.1
-1.3
-6.2
-2.6
1 yr
3 yrs
(p.a.)
5 yrs
(p.a.)
3.0
-2.2
0.3
-
-
Since
launch
(p.a.)
2.0
-2.1
-0.9
Portfolio Analysis
Country breakdown
China
Republic of Korea
Philippines
Russia
Mexico
Brazil
Israel
Jamaica
Turkey
United Arab Emirates
%
30.1
19.9
10.7
6.5
5.5
5.1
2.2
2.1
1.5
1.5
Credit rating breakdown
A
AA
B
BB
BBB
Not rated
Maturity structure
0-3 years
10-15 years
15+ years
3-5 years
5-7 years
7-10 years
Cash
%
30.5
7.5
2.7
30.6
11.4
12.7
-7.1
Top 10 sectors (%)
%
22.5
16.5
10.5
13.9
20.2
11.8
Financial
Oil & Gas
Government
Real Estate
Fund
Benchmark
Utilities
Infrastructure
TMT
Industrial
Consumer
Metals & Mining
0
www.henderson.com/sg
5
10
15
20
25
30
35
Henderson
Horizon
EMERGING MARKET
CORPORATE BOND FUND
(continued)
Notes
* Source: Henderson Global Investors Limited / Morningstar, calculated as at 31 January 2016 on a NAV to NAV
basis for Accumulation (A2) shares, with gross income reinvested at NAV price, rebased at 100, USD.
** Source: Henderson Global Investors Limited, calculated as at 31 January 2016 on a NAV to NAV basis for
Accumulation (A2) shares, net of 5% initial charge, with gross income reinvested at NAV price. Note: The
performance calculation is based on a maximum initial sales charge of 5%. The actual initial sales charge paid by
the unitholder may be different based on the discount, if any, applied by distributors. As such, the performance
return may differ based on the discount, if any, applied by distributors.
Important Information
This document has been prepared by Henderson Global Investors (Singapore) Limited, who is the Singapore
Representative of the Henderson Horizon Fund – Emerging Market Corporate Bond Fund (the “Fund”), and is
distributed by authorised distributors. The information contained in the document has not been reviewed or endorsed
by the MAS. The prospectus and Product Highlights Sheet (“PHS”) of the Fund is available and may be obtained from
the Manager’s office and the participating distributors’ offices. Investors should read the prospectus and PHS before
deciding whether to invest in the units of the Fund. An investment in collective investment schemes/funds, and/or
other investment products is subject to investment risks, including the possible loss of the principal amount invested.
The value of the units and the income from the Fund may fall as well as rise. The fund may intend to use or invest in
financial derivative instruments. Past performance or any forecast made is not necessarily indicative of the future or
likely performance of the Fund. Investments in and the rate of return for the Fund are not obligations of, deposits in,
guaranteed or insured by Henderson Global Investors or any of its affiliates or appointed distributors. The information
is strictly for information purposes only and should not be construed as an offer or solicitation to deal in the Fund.
No representation or warranty, express or implied, is made or given by or on behalf of Henderson Global Investors or
its employees as to the accuracy, validity or completeness of the information or opinions contained in this document.
Unless otherwise stated, the source of information is from Henderson Global Investors.
Henderson Global Investors (Singapore) Limited
Address: 6 Battery Road, #12-01, Singapore 049909
Tel: (65) 6836 3900 Fax: (65) 6221 0039
Website: www.henderson.com/sg
Company Registration No. 199700782N
Date of issue: February 2016