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This fund allocates at least 80% of its holdings to securities included in its benchmark index. This index primarily consists of highly liquid, U.S. dollar-denominated debt issued by sovereign and quasi-sovereign entities in emerging markets. These fixed or floating rate bonds are chosen via a systematic methodology developed and owned by the adviser. The fund itself is classified as non-diversified.
Is JPMB's expense ratio expensive, average, or a steal for its category?
Pro reveals the verdict on a 5-tier spectrum calibrated against ICI 2025 industry averages, with strategy-aware bands so the comparison is meaningful.
July was an impressive asset-gathering month for ETFs. Much of the heavy lifting was done by the industry's largest ETFs.
During LSEG Lipper's fund-flows week that ended August 2, 2023, investors were overall net redeemers of fund assets (including both conventional funds and ETFs) for the first week in three, removing a net $6.5 billion. Our fund-flows week kicked off on Thursday, July 27, with markets digesting the prior day's anticipated 25-bps rate hike from the Federal Reserve. Conventional taxable-fixed income funds realized a weekly outflow of $2.1 billion—marking their first weekly outflow in five weeks.
Central banks across emerging markets have reacted to elevated inflation by significantly tightening monetary policy, in some cases, well ahead of the U.S. Federal Reserve and the European Central Bank. After largely synchronized rate-hiking cycles across EM, monetary policies could once again begin to diverge among individual countries.
In emerging markets valuations look attractive today after the losses across financial markets early this year. PIMCO's investment process is founded upon our macroeconomic outlook and our in-house country and credit research.
Performance of emerging markets local currency bonds has been negatively impacted by the U.S. dollar's strength since mid-year, despite the higher real yields and upside growth surprises in many emerging markets. Currency returns can be volatile, and external factors can have a bigger short-term impact on an emerging markets currency (EMFX) even if relatively attractive fundamentals may provide longer-term support.