LU2093702392
Emerging Markets Debt Local Currency Fund
Why Consider This Fund?
Approach
- Features a diversified portfolio of debt instruments, denominated in local currencies of emerging markets
- Combines rigorous bottom-up research with top-down analysis to better identify investment opportunities
- The Fund is classified as a financial product under Article 8 of the EU Sustainable Finance Disclosure Regulation. The Fund promotes environmental or social characteristics but does not have a sustainable investment objective
Risk Considerations
- The value of shares and any income from them can increase or decrease and an investor may not get back the amount originally invested
- Where investments are made in currencies other than an investor’s base currency, the value of those investments will be affected (favourably or unfavourably) by movements in exchange rates
- Investing in the bond market is subject to certain risks including market, interest rate, issuer, credit, and inflation risk. These risks may be enhanced in below investment grade securities
- Emerging markets or less developed countries may face more political, economic or structural challenges than developed countries and investments in these countries are subject to greater risks
Fund Facts
OTHER VEHICLES:
| Fund Facts | As of 31.10.2025 |
|---|---|
| Total Net Assets ($Million) | $58 |
| Number of Holdings | 184 |
| Inception Date | 24.06.2020 |
| Ongoing Charge Figure* | 0.75% |
| ISIN | LU2093702392 |
| SEDOL | BKT6V83 |
| Bloomberg | WIMDLRH LX |
| Valoren Number | 52516719 |
| WKN Number | A2PZVF |
| Lipper | 68601272 |
| Benchmark** | JPMorgan GBI-EM Global Diversified - Net Return |
*The ongoing charge figure (OCF), is the charge you’ll pay over a year for as long as you hold your investment. The OCF for a fund is quoted on the 'Key Investor Information' document and relates to the costs of running the fund.
**Reference to the Benchmark is only included for performance comparison purposes and does not have any bearing on how the investment manager invests the fund’s assets. The Benchmark has been selected because it is representative of the type of investments in which the fund is likely to invest.
Performance
RETURN:As of 31.10.2025 | AVERAGE ANNUAL RETURNS: As of 31.10.2025 | ||||||
| Fund | Inception | Month | YTD | 1-YR | 3-YR | 5-YR | Since Inception |
|---|---|---|---|---|---|---|---|
| Emerging Markets Debt Local Currency Fund Class R (H EUR) | 24.06.2020 | 0.27% | 15.73% | 11.69% | 10.36% | 2.01% | 2.00% |
| JPMorgan GBI-EM Global Diversified - Net Return | - | 0.46% | 15.94% | 13.06% | 11.75% | 2.33% | 2.19% |
Past performance is not necessarily a guide to future performance. Returns for periods of one year or more are annualized. All charges and fees, except any entry, exit and switching charge, have been taken into account in calculating the Fund’s performance. Returns for other share classes will differ from those shown above. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Levels and bases for taxation may change.
† Since Fund’s inception on 24.06.2020 through 31.12.2020.
Index returns are calculated in US Dollars and converted to non-US Dollar values using the 4pm London time spot rate when reporting non-US Dollar index returns.
Portfolio Characteristics
As of 31.10.2025
| Portfolio Composition | |
|---|---|
| OAS (BPS) | 0 |
| Current Yield | 6.50% |
| Duration (years) | 5.6 |
| Yield To Maturity | 7.60% |
| Top 10 Issuers | % of Fund |
|---|---|
| MALAYSIA (GOVERNMENT) | 9.62% |
| UNITED MEXICAN STATES (MEXICO) | 8.55% |
| REPUBLIK INDONESIA | 8.08% |
| REPUBLICA FEDERATIVA DO BRASIL | 6.92% |
| RZECZPOSPOLITA POLSKA | 6.64% |
| SOUTH AFRICA, REPUBLIC OF (GOVERNMENT) | 6.60% |
| BANQUE INTERAMERICAINE DE DEVELOPPEMENT | 4.89% |
| RATCHA ANACHAK THAI | 4.77% |
| INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT | 4.38% |
| ROMANIA, REPUBLIC OF (GOVERNMENT) | 4.11% |
| Total | 64.56% |
Top ten holdings are shown as % of total net assets.
| Top 10 Active Duration Exposure Per Country | % of Fund |
|---|---|
| HUNGARY | 0.3% |
| INDIA | 0.7% |
| BRAZIL | 0.3% |
| COLOMBIA | 0.3% |
| MEXICO | 0.5% |
| UGANDA | 0.1% |
| ZAMBIA | 0.1% |
| SRI LANKA | 0.0% |
| PHILIPPINES | 0.0% |
| MALAYSIA | 0.7% |
| Total | 3.0% |
| Top 10 Active Currency Exposure | % of Fund |
|---|---|
| EURO | 2.66% |
| SRI LANKA RUPEE | 1.16% |
| NIGERIAN NAIRA | 1.15% |
| ZAMBIAN KWACHA | 1.12% |
| UGANDA SHILLING | 1.00% |
| EGYPTIAN POUND | 0.99% |
| TAIWAN DOLLAR | 0.98% |
| KAZAKHSTAN TENGE | 0.96% |
| PHILIPPINE PESO | 0.89% |
| CHILEAN PESO | 2.54% |
| Total | 13.45% |
Portfolio Allocations
| Sector | % of Fund | % Benchmark |
|---|---|---|
| EM Mkt Sovereign | 85.7% | 100.0% |
| Em Mkt Supranational | 11.7% | 0.0% |
| EM Mkt Quasi-Sovereign | 1.3% | 0.0% |
| Cash & Equivalents | 0.8% | 0.0% |
| EM Mkt Corporate | 0.3% | 0.0% |
| EM Mkt Sub Sovereign | 0.2% | 0.0% |
| Total | 100.0% |
| Duration | % of Fund |
|---|---|
| Less than 1 year | 12.6% |
| 1 - 3 years | 13.5% |
| 3 - 5 years | 20.1% |
| 5 - 7 years | 22.6% |
| 7 - 10 years | 22.0% |
| 10 - 15 years | 7.8% |
| 15+ years | 1.4% |
| Total | 100.0% |
| Credit Quality | % of Fund | |
|---|---|---|
| AAA | 11.7% | |
| AA | 4.4% | |
| A | 18.3% | |
| BBB | 36.1% | |
| BB | 20.6% | |
| B | 3.0% | |
| CCC | 3.1% | |
| D | 1.1% | |
| NR | 0.9% | |
| Cash & Equivalents | 0.8% | |
| Total | 100.0% |
Management
Head of the Emerging Markets Debt Team, Portfolio Manager
Tenure with William Blair:Since
2020
Fund Literature
| Fund Literature | |
|---|---|
| Class R (H EUR) Fact Sheet | |
| Commentary | |
| Holdings | |
| Emerging Markets Debt Local Currency Fund Risk Review | |
| 5 Reasons to Consider EM Debt in a Tariff-Driven World | |
| Why Emerging Markets Debt Now? |
Any investment or strategy mentioned herein may not be appropriate for every investor. There can be no assurance that investment objectives will be met. Products and services listed are available only to residents of this jurisdiction and may only be available to certain categories of investors. The information on this website does not constitute an offer for products or services, or a solicitation of an offer to any persons outside of this jurisdiction who are prohibited from receiving such information under applicable laws and regulations. Nothing on this webpage should be construed as advice and is therefore not a recommendation to buy or sell shares.
Please carefully consider the investment objectives, risks, charges, and expenses of the William Blair SICAV. This and other important information is contained in the prospectus and Key Investor Information Document. Read these documents carefully before investing. The information contained on this website is not a substitute for those documents or for professional external advice.
The JP Morgan Government Bond Index-Emerging Market (GBI-EM) Global Diversified measures local currency denominated, fixed rate, government debt issued in emerging markets. It is not possible to directly invest in an unmanaged index. Information has been obtained from sources believed to be reliable but JP Morgan does not warrant its completeness or accuracy. The index is used with permission. The index may not be copied, used, or distributed without JP Morgan’s prior written approval. Copyright JPMorgan Chase & Co. All rights reserved.
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This webpage is a marketing communication. Please refer to the Prospectus, the Annual Report and to the KIID/KID in the Fund Literature section above, before making any final investment decisions.
The William Blair SICAV is a Luxembourg investment company with variable capital registered with the Commission de Surveillance du Secteur Financier (“CSSF”) which qualifies as an undertaking for collective investment in transferable securities (“UCITS”). The Management Company of the SICAV has appointed William Blair Investment Management, LLC as the investment manager for the fund. Additional information can be found under the Terms of Use.
Issued in the European Economic Area (EEA) by William Blair B.V., authorized and supervised by the Dutch Authority for the Financial Markets (AFM) under license number 14006134 and also supervised by the Dutch Central Bank (DNB), registered at the Dutch Chamber of Commerce under number 82375682 and has its statutory seat in Amsterdam, the Netherlands. This material is only intended for eligible counterparties and professional clients.
This fund is not available to Taiwanese investors.