NORVIK EM High Yield Bond Fund : Market Update 29.06.2018


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)