Fact sheet: Aberdeen Latin American Income IT

Rated Fund Information
Rated Funds Group
?Money Observer has arranged all its Rated Funds into easy to understand Rated Fund Groups, comprising funds and investment trusts.
EMERGING MARKETS
Sector
UT Specialist
Fund type
OEIC
Primary aim
GROWTH & INCOME
Why Money Observer Rates Aberdeen Latin American Income IT

Rated Fund 2013 and 2017. A mixed asset trust for income and greater security

The Aberdeen Latin American Income trust caters for both income investors looking for diversification and growth investors who want to take a more cautious approach to emerging markets through a mixed asset fund. The trust invests a minimum of 25 per cent in Latin American equities and at least 25 per cent in fixed-income investments.

Recently, the ratio has been 40 per cent equities and 60 per cent bonds. The trust's yield is just over 5 per cent. The lead manager on the trust is Nick Robinson, head of Brazilian equities in the global emerging market equities team.

The trust's asset allocation split is expected to remain at around 40/60 for the foreseeable future, with government bonds helping boost its yield. But Robinson says the allocation to equities is likely to increase over time as economic conditions improve and the trust's revenue streams stabilise.

Equity and bond choices are based on the group's in-house research. On the fixed income side, there is an emphasis on risk but also value to avoid losses and protect income.

Robinson follows the Aberdeen philosophy of looking for sustainable growth at a company level and at whether companies treat their shareholders fairly. Regular meetings with company managements are a crucial part of this process.

Robinson sees demographics, especially a burgeoning middle class, as the growth engine currently driving businesses in Latin America.

3 Year Performance
Fund Performance52.4%
Average of Rated Funds Group45.4%
Sector Performance20.9%
Fund information
Fund name
Aberdeen Latin American Equity I Acc
Fund manager company
Aberdeen Fund Managers Limited
Fund type
OEIC
Fund manager
  • Global Emerging Markets Equity Teamsince 09/02/2011
Accolades
Fund objective
The Fund’s investment objective is long-term total return to be achieved by investing in equities and equity-related securities of Latin American companies or companies with significant activities in Latin America.
Benchmark
  • MSCI EM Latin America 10/40
Investment style
None
Investment method
Shares
Quick stats
1 Year return
9.7%
1 Year rank in sector
17/105
Sector
UT Specialist
Yield
1.4%
Ongoing charge (OCF)
?A fund’s ongoing charges figure (OCF) is similar to the old-style total expense ratio. It reflects the annual charge to investors in the fund, in percentage terms, but does not include extra performance-related fees (where these are levied) or the fund’s trading expenses on its underlying investments.
1.27%
Fund size
£226m (£204m last year)
FE Risk score
?FE Risk Scores measure the riskiness of instruments relative to the FTSE 100 index of shares. Weekly volatility is measured over three years with recent behaviour counting more heavily than earlier behaviour. Cash-type investments will have scores close to zero. Funds will tend to have scores in the 0-150 range. The FTSE 100 is always scored at 100. There is no upper limit.
184
Mid price
117.81
Top in this sector
Fund name1 Year
Baring German Gth20.4%
VT Halo Gbl Asn Consumer20.1%
Fidelity EmEur Md Et Af16.8%
Baring Korea Trust15.9%
Jupiter Financial Opps15.2%
...more in UT Specialist

Performance snapshot

Holdings snapshot

  • Brazil60.3%
    Mexico21.9%
    Chile9.8%
    Argentina2.3%
    Peru1.8%
  • Financials29.9%
    Consumer Staples21.1%
    Consumer Discretionary12.4%
    Industrials10.7%
    Materials7.6%
  • Brazilian Equities56.2%
    Mexican Equities21.9%
    Chilean Equities7.3%
    Preference Shares6%
    American Emerging Equities3.9%

Fund also available on these pension platforms:

Performance vs Sector

Cumulative performance
 1 mth3 mth6 mth1 yr3 yr5 yr
Fund-1.7%5.7%0.6%9.7%52.4%2.5%
Sector-3.9%-0.3%0.4%1.7%20.9%24.1%
Rank within sector28 / 1118 / 11157 / 11117 / 1058 / 10170 / 88
Quartile2nd1st3rd1st1st4th
Calendar performance
 YTD - 20182017201620152014
Fund2.4%18.1%64.1%-25.8%-10.8%
Sector-2.3%8.2%22.7%-4.5%1.2%
Rank within sector10 / 11112 / 10514 / 10492 / 10081 / 95
Quartile1st1st1st4th4th
Risk statistics
Alpha
?Alpha is a measure of a fund's over- or under-performance by comparison to its benchmark. If the Alpha is 5, the fund has outperformed its benchmark by 5%; so the greater the Alpha, the greater the outperformance.
-3.89
Beta
?Beta estimates a fund's volatility by comparison to that of its benchmark. A fund with a beta close to 1 means that the fund will move generally in line with the benchmark. Higher than 1 and the fund is more volatile than the benchmark and vice versa.
2.39
Sharpe
?This commonly-used measure calculates the level of return over and above the return of a notional risk-free investment, such as cash. The difference in returns is then divided by the fund's volatility. The resulting ratio is an indication of the amount of excess return generated per unit of risk.
0.43
Volatility
?Volatility (or standard deviation), when applied to an investment fund, expresses its risk. It shows how widely a range of returns varied from the fund's average return over a particular period. For example, if a fund had an average return of 5%, and its volatility was 15, this would mean that the range of its returns over the period had swung between +20% and -10%.
25.62
Tracking error
?This measures the standard deviation of a fund's excess returns over the returns of an index or benchmark portfolio. As such, it can be an indication of 'riskiness' in the manager's investment style. A Tracking Error below 2 suggests a passive approach. At 3 and above the the manager will be deploying a more active investment style.
17.35
Information ratio
?This is a useful risk-adjusted measure of actively managed fund performance. It is calculated by deducting the returns of the fund's benchmark from the fund's overall returns, then dividing the result by its tracking error. The higher the Information Ratio the better. It is generally considered that a figure of 0.5 reflects a good performance, 0.75 very good, and 1.00 outstanding.
0.32
R-Squared
?An indication of how closely correlated a fund is to an index or a benchmark. Values for R-Squared range between 0 and 1, with 0 indicating no correlation at all and 1 showing a perfect match. Values upwards of 0.7 suggest that the fund's behaviour is increasingly linked to its benchmark.
0.79
Price movement
52 week high124.74
52 week low100.54
Current bid price-
Current offer price-
Current mid price117.81
Region
1Brazil60.29%
2Mexico21.89%
3Chile9.77%
4Argentina2.35%
5Peru1.8%
6Colombia1.54%
7Italy1.18%
8UK0.96%
9USA0.22%
Industry sector
1Financials29.87%
2Consumer Staples21.08%
3Consumer Discretionary12.42%
4Industrials10.65%
5Materials7.59%
6Real Estate7.01%
7Energy4.77%
8Information Technology3.55%
9Others1.7%
Asset type
1Brazilian Equities56.22%
2Mexican Equities21.91%
3Chilean Equities7.26%
4Preference Shares6.04%
5American Emerging Equities3.88%
6Peruvian Equity1.8%
7Cash & Cash Equivalents1.7%
8Italian Equities1.18%
Individual holdings
1ITOCHU CORP7.8%
2BANCO BRADESCO SA7.3%
3LOJAS RENNER SA5%
4AMBEV SA4.9%
5FOMENTO ECONOMICO MEXCANO SAB DE CV4.3%
6GRUPO FINANCIERO BANORTE SAB DE CV3.8%
7MULTIPLAN EMPREENDIMENTOS IMOB SA3.6%
8ULTRAPAR PARTICIPACOES SA3.6%
9WAL-MART DE MEXICO SAB DE CV3.3%
Management
Fund manager group
Aberdeen
Fund manager company
Aberdeen Fund Managers Limited
Fund type
OEIC
Fund objective
The Fund’s investment objective is long-term total return to be achieved by investing in equities and equity-related securities of Latin American companies or companies with significant activities in Latin America.
Benchmark
  • MSCI EM Latin America 10/40
Investment style
None
Investment method
Shares
Fund manager
NameSinceBiography
Global Emerging Markets Equity Team09/02/2011
Compliance
IA Recognised, UCITS V Compliant
Domicile
No data available.
Fund for sale in
United Kingdom
Aberdeen Latin American Equity A Acc
Initial charge-
Annual charge1.75%
Min single investment£500
Min regular saving£100
Available in ISAYes
Ongoing charge (OCF)2.02%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price111
CurrencyGBX
Price updated15/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeMNI9
Aberdeen Latin American Equity I Acc
Initial charge-
Annual charge1%
Min single investment£500,000
Min regular saving£10,000
Available in ISAYes
Ongoing charge (OCF)1.27%
Total expense ratio (TER)-
Bid price-
Offer price-
Mid price117.81
CurrencyGBX
Price updated15/02/2018
TypeAccumulation
Institutional or retail classRetail
Domicile-
Citi codeGNON
Data provided by

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