Norvik EM High Yield Bond’s value were flat last week but investors interest started returning to emerging markets USD universe as 10 year US Treasury bond yields fell from 2.95% to 2.85% in a week. Our fund’s lost mostly from marking down of Nostrum Oil& Gas 2025 bond by 2.7 points, Ukraine 32 and Argentina 28 down by 0.75 points. Continuous high coupon carry together with a recovery of Angola 25 and Ecuador 28 both up 0.75 points, Ivory Coast 33 - up 0.5 point allowed the fund value to stabilise. Yesterday evening and today we see some buying of emerging markets debt by investors and we hope that next month we may see a further positive momentum.
Fund Performance %
| 1 Day | 0.43% |
| 1 Week | 0.03% |
| 1 Month | 4.21% |
| 3 Months | 5.68% |
| 2018 Year to date | 5.34% |
| 6 Months | 5.18% |
| Since inception 12.07.2017 | +3.10% (3.23% annualized act/act) |
NORVIK EM High Yield Bond Fund (ISIN KODS: LV0000400950)
+371 67041100 (I-V 9:00-13:00)