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Invesco Emerging Markets Local Debt Fund
mutual fund
OEMIX
Payout Change
Pending
Price as of:
$5.2
+0.0
+0.0%
primary theme
Emerging Markets Bond
share class
OEMIX (Mutual Fund)
Invesco Emerging Markets Local Debt Fund
Payout Change
Pending
Price as of:
$5.2
+0.0
+0.0%
primary theme
Emerging Markets Bond
share class
OEMIX (Mutual Fund)
Invesco Emerging Markets Local Debt Fund
Payout Change
Pending
Price as of:
$5.2
+0.0
+0.0%
primary theme
Emerging Markets Bond
share class
Name
As of 12/11/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
-1.8%
1 yr return
1.7%
3 Yr Avg Return
0.8%
5 Yr Avg Return
-0.6%
Net Assets
$97 M
Holdings in Top 10
35.1%
52 WEEK LOW AND HIGH
$5.2
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.11%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/11/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
OEMIX - Profile
Distributions
- YTD Total Return -1.8%
- 3 Yr Annualized Total Return 0.8%
- 5 Yr Annualized Total Return -0.6%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 4.70%
- Dividend Yield 6.8%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameInvesco Emerging Markets Local Debt Fund
-
Fund Family NameOppenheimerFunds
-
Inception DateSep 28, 2012
-
Shares OutstandingN/A
-
Share ClassR6
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerHemant Baijal
Fund Description
Under normal market conditions, determined by the Adviser in its discretion, the Fund invests at least 80% of its net assets (plus borrowings for investment purposes) in debt securities that are economically tied to emerging market countries and denominated in local (non-U.S.) currencies, and in derivatives and other instruments that have economic characteristics similar to such securities. The Fund typically invests in at least three emerging market countries, i.e., those that are generally in the early stages of their industrial cycles. Debt securities that the Fund considers to be economically tied to emerging market countries include debt securities issued by sovereign entities of emerging market countries, or corporations that are organized, headquartered or domiciled, or whose principal activities or country of risk,as determined by a third party service provider, are in emerging market countries. The Fund can invest in various types of debt securities, generally referred to as “bonds,” including government bonds, corporate debt obligations, “structured” notes, participation interests in loans, “zero coupon” or “stripped” securities, certain mortgage-related securities or asset-backed securities and other debt obligations.
The Fund may buy securities of issued by companies of any size or market capitalization range and at times might emphasize securities of issuers in a particular capitalization range. It can invest in debt securities having short, intermediate or long maturities.
The Fund does not limit its investments to a particular credit quality or rating category and can invest without limit in securities rated or that are below investment grade (also referred to as “junk bonds”). “Investment grade” debt securities are rated in one of the top four categories by nationally recognized statistical rating organizations such as Moody’s Investors Service (Moody’s) or S&P Global Ratings (S&P). If two or more nationally recognized statistical rating organizations have assigned different
ratings to a security, the investment adviser uses the highest rating assigned. The Fund may also invest in unrated securities, in which case the Adviser may internally assign ratings to certain of those securities, after assessing their credit quality, in categories similar to those of nationally recognized statistical rating organizations.
The Fund also uses derivatives to seek increased returns or to try manage investment risks, including, for example, options, forward contracts, futures contracts, swaps and “structured” notes.
The Fund is non-diversified, which means it can invest a greater percentage of its assets in a small group of issuers or any one issuer than a diversified fund can.
In selecting securities, the portfolio managers evaluate the overall investment opportunities and risks in individual national economies. The portfolio managers analyze the business cycle, political factors and exchange rates across countries. As part of the Fund’s investment process, to implement its investment strategy in pursuit of its investment objective, the Fund’s portfolio managers also consider both quantitative and qualitative environmental, social and governance (“ESG”) factors they believe to be material to understanding an issuers fundamentals and apply a scoring methodology designed to determine which securities are eligible to include in the Fund's portfolio. The Adviser generally seeks to exclude investments with low ESG scores. This analysis may involve the use of third-party research as well as proprietary research. Consideration of ESG factors is just one component of the portfolio managers’ assessment of issuers eligible for investment and not necessarily determinative of an investment decision. Therefore, the Fund’s portfolio managers may still invest in securities of issuers with a high ESG risk profile. The ESG factors considered by the Fund’s portfolio managers may change over time and one or more factors may not be relevant with respect to all issuers eligible for investment and ESG considerations may not be applied to each issuer or Fund investment.
The Fund currently focuses on investment opportunities for higher yields than are available in U.S. markets and opportunities in investments denominated in foreign currencies that compare favorably to the U.S. dollar. The portfolio managers seek to actively manage foreign currency exposure both to help reduce risk and to seek to enhance return. These factors may vary in particular cases and, along with the Fund’s investment focus, may change over time.
In attempting to meet its investment objective or to manage subscription and redemption requests, the Fund may engage in active and frequent trading of portfolio securities.
OEMIX - Performance
Return Ranking - Trailing
| Period | OEMIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -1.8% | -4.7% | 464.5% | 94.20% |
| 1 Yr | 1.7% | -2.6% | 481.4% | 94.54% |
| 3 Yr | 0.8%* | -7.4% | 59.3% | 39.58% |
| 5 Yr | -0.6%* | -7.2% | 29.3% | 79.63% |
| 10 Yr | 1.4%* | -4.5% | 14.7% | 65.76% |
* Annualized
Return Ranking - Calendar
| Period | OEMIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 7.4% | -10.6% | 17.8% | 17.41% |
| 2022 | -13.6% | -29.1% | -2.4% | 12.72% |
| 2021 | -14.0% | -24.0% | 2.7% | 94.62% |
| 2020 | 0.4% | -14.0% | 9.7% | 54.44% |
| 2019 | 7.5% | -6.4% | 13.0% | 65.04% |
Total Return Ranking - Trailing
| Period | OEMIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -1.8% | -4.7% | 464.5% | 94.20% |
| 1 Yr | 1.7% | -2.6% | 481.4% | 94.54% |
| 3 Yr | 0.8%* | -7.4% | 59.3% | 39.58% |
| 5 Yr | -0.6%* | -7.2% | 29.3% | 79.63% |
| 10 Yr | 1.4%* | -4.5% | 14.7% | 65.76% |
* Annualized
Total Return Ranking - Calendar
| Period | OEMIX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 14.8% | -0.6% | 20.0% | 6.83% |
| 2022 | -8.4% | -27.6% | -1.7% | 8.83% |
| 2021 | -9.8% | -18.5% | 7.4% | 93.19% |
| 2020 | 4.7% | -7.8% | 18.0% | 58.15% |
| 2019 | 14.5% | -3.0% | 23.0% | 29.32% |
NAV & Total Return History
OEMIX - Holdings
Concentration Analysis
| OEMIX | Category Low | Category High | OEMIX % Rank | |
|---|---|---|---|---|
| Net Assets | 97 M | 565 K | 14.8 B | 62.46% |
| Number of Holdings | 313 | 4 | 1860 | 41.98% |
| Net Assets in Top 10 | 31.8 M | -134 M | 1.25 B | 52.56% |
| Weighting of Top 10 | 35.08% | 5.8% | 102.5% | 12.07% |
Top 10 Holdings
- Invesco Treasury Portfolio, Institutional Class 4.89%
- Republic of South Africa Government Bond 3.98%
- Brazil Notas do Tesouro Nacional 3.80%
- Peru Government Bond 3.74%
- Mexican Bonos 3.61%
- Republic of Poland Government Bond, Series 432 3.48%
- Colombian TES, Series B 3.27%
- Republic of South Africa Government Bond 2.88%
- Indonesia Treasury Bond, Series FR96 2.73%
- India Government Bond 2.70%
Asset Allocation
| Weighting | Return Low | Return High | OEMIX % Rank | |
|---|---|---|---|---|
| Bonds | 86.27% | 0.00% | 100.50% | 92.15% |
| Cash | 14.44% | 0.00% | 29.76% | 5.12% |
| Stocks | 0.00% | -0.01% | 96.78% | 52.90% |
| Preferred Stocks | 0.00% | 0.00% | 2.24% | 32.42% |
| Convertible Bonds | 0.00% | 0.00% | 8.47% | 71.03% |
| Other | -0.71% | -10.15% | 91.74% | 93.52% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | OEMIX % Rank | |
|---|---|---|---|---|
| Government | 41.10% | 0.00% | 99.79% | 79.66% |
| Cash & Equivalents | 7.53% | 0.00% | 23.23% | 6.48% |
| Corporate | 1.36% | 0.00% | 91.26% | 90.34% |
| Securitized | 0.07% | 0.00% | 2.41% | 13.10% |
| Municipal | 0.00% | 0.00% | 0.00% | 29.66% |
| Derivative | -0.71% | -1.67% | 13.76% | 94.54% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | OEMIX % Rank | |
|---|---|---|---|---|
| Non US | 86.14% | 0.00% | 132.49% | 13.65% |
| US | 0.13% | -42.31% | 99.16% | 92.49% |
OEMIX - Expenses
Operational Fees
| OEMIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.11% | 0.02% | 32.92% | 59.25% |
| Management Fee | 0.69% | 0.00% | 1.10% | 48.46% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.02% | 0.65% | N/A |
Sales Fees
| OEMIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.75% | 5.75% | 30.51% |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| OEMIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.75% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| OEMIX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.00% | 218.00% | 23.40% |
OEMIX - Distributions
Dividend Yield Analysis
| OEMIX | Category Low | Category High | OEMIX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 6.82% | 0.00% | 22.22% | 77.82% |
Dividend Distribution Analysis
| OEMIX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Quarterly | Monthly | Monthly |
Net Income Ratio Analysis
| OEMIX | Category Low | Category High | OEMIX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 4.70% | -2.28% | 8.00% | 22.38% |
Capital Gain Distribution Analysis
| OEMIX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Nov 29, 2024 | $0.030 | OrdinaryDividend |
| Oct 31, 2024 | $0.030 | OrdinaryDividend |
| Sep 30, 2024 | $0.030 | OrdinaryDividend |
| Aug 30, 2024 | $0.030 | OrdinaryDividend |
| Jul 31, 2024 | $0.030 | OrdinaryDividend |
| Apr 30, 2024 | $0.030 | OrdinaryDividend |
| Mar 28, 2024 | $0.030 | OrdinaryDividend |
| Feb 29, 2024 | $0.030 | OrdinaryDividend |
| Jan 31, 2024 | $0.029 | OrdinaryDividend |
| Dec 29, 2023 | $0.029 | OrdinaryDividend |
| Nov 30, 2023 | $0.029 | OrdinaryDividend |
| Oct 31, 2023 | $0.029 | OrdinaryDividend |
| Sep 29, 2023 | $0.029 | OrdinaryDividend |
| Aug 31, 2023 | $0.029 | OrdinaryDividend |
| Jul 31, 2023 | $0.029 | OrdinaryDividend |
| Jun 30, 2023 | $0.028 | OrdinaryDividend |
| May 31, 2023 | $0.028 | OrdinaryDividend |
| Apr 28, 2023 | $0.027 | OrdinaryDividend |
| Mar 31, 2023 | $0.028 | OrdinaryDividend |
| Feb 28, 2023 | $0.027 | OrdinaryDividend |
| Jan 31, 2023 | $0.028 | OrdinaryDividend |
| Dec 30, 2022 | $0.027 | OrdinaryDividend |
| Nov 30, 2022 | $0.027 | OrdinaryDividend |
| Oct 31, 2022 | $0.024 | ReturnOfCapital |
| Sep 30, 2022 | $0.024 | ReturnOfCapital |
| Aug 31, 2022 | $0.024 | ReturnOfCapital |
| Jul 29, 2022 | $0.024 | ReturnOfCapital |
| Jun 30, 2022 | $0.024 | ReturnOfCapital |
| May 31, 2022 | $0.024 | ReturnOfCapital |
| Apr 29, 2022 | $0.024 | ReturnOfCapital |
| Mar 31, 2022 | $0.024 | ReturnOfCapital |
| Feb 28, 2022 | $0.024 | ReturnOfCapital |
| Jan 31, 2022 | $0.024 | ReturnOfCapital |
| Dec 31, 2021 | $0.024 | OrdinaryDividend |
| Nov 30, 2021 | $0.024 | OrdinaryDividend |
| Oct 29, 2021 | $0.021 | ReturnOfCapital |
| Oct 29, 2021 | $0.003 | OrdinaryDividend |
| Sep 30, 2021 | $0.021 | ReturnOfCapital |
| Sep 30, 2021 | $0.003 | OrdinaryDividend |
| Aug 31, 2021 | $0.021 | ReturnOfCapital |
| Aug 31, 2021 | $0.003 | OrdinaryDividend |
| Jul 30, 2021 | $0.021 | ReturnOfCapital |
| Jul 30, 2021 | $0.003 | OrdinaryDividend |
| Jun 30, 2021 | $0.021 | ReturnOfCapital |
| Jun 30, 2021 | $0.003 | OrdinaryDividend |
| May 28, 2021 | $0.021 | ReturnOfCapital |
| May 28, 2021 | $0.003 | OrdinaryDividend |
| Apr 30, 2021 | $0.021 | ReturnOfCapital |
| Apr 30, 2021 | $0.003 | OrdinaryDividend |
| Mar 31, 2021 | $0.021 | ReturnOfCapital |
| Mar 31, 2021 | $0.003 | OrdinaryDividend |
| Feb 26, 2021 | $0.019 | ReturnOfCapital |
| Feb 26, 2021 | $0.003 | OrdinaryDividend |
| Jan 29, 2021 | $0.019 | ReturnOfCapital |
| Jan 29, 2021 | $0.003 | OrdinaryDividend |
| Dec 31, 2020 | $0.022 | OrdinaryDividend |
| Nov 30, 2020 | $0.015 | OrdinaryDividend |
| Oct 30, 2020 | $0.015 | ReturnOfCapital |
| Sep 30, 2020 | $0.014 | ReturnOfCapital |
| Aug 31, 2020 | $0.015 | ReturnOfCapital |
| Jul 31, 2020 | $0.016 | ReturnOfCapital |
| Jun 30, 2020 | $0.015 | ReturnOfCapital |
| May 29, 2020 | $0.014 | ReturnOfCapital |
| Apr 30, 2020 | $0.018 | ReturnOfCapital |
| Mar 31, 2020 | $0.038 | ReturnOfCapital |
| Feb 28, 2020 | $0.032 | ReturnOfCapital |
| Jan 31, 2020 | $0.028 | ReturnOfCapital |
| Dec 31, 2019 | $0.029 | OrdinaryDividend |
| Nov 29, 2019 | $0.031 | OrdinaryDividend |
| Oct 31, 2019 | $0.030 | OrdinaryDividend |
| Sep 30, 2019 | $0.031 | OrdinaryDividend |
| Aug 30, 2019 | $0.035 | OrdinaryDividend |
| Jul 31, 2019 | $0.034 | OrdinaryDividend |
| Dec 31, 2013 | $0.151 | CapitalGainLongTerm |
OEMIX - Fund Manager Analysis
Managers
Hemant Baijal
Start Date
Tenure
Tenure Rank
Mar 31, 2015
7.17
7.2%
Hemant Baijal (lead manager), Portfolio Manager, who has been responsible for the Fund since 2019 and has been associated with Invesco and/or its affiliates since 2019. Prior to the commencement of the Fund’s operations, Mr. Baijal managed the predecessor fund since 2018 and was associated with OppenheimerFunds, a global asset management firm, since 2011. Hemant Baijal leads the Global Fixed Income team. He is the lead portfolio manager at Oppenheimer. Prior to joining the firm, Hemant co-founded Six Seasons Global Asset Management, where he served as partner and portfolio manager with a focus on fixed income macro strategies. Before his role at Six Seasons, he was a partner and portfolio manager at Aravali Partners, LLC., where he focused on absolute return and interest rate hedging strategies. Previously, Hemant was a partner and portfolio manager at Havell Capital Management, LLC., where he focused on fixed income macro and relative value strategies. Earlier in his career, Hemant was a senior portfolio manager for international, global and multi-sector fixed income portfolios at Neuberger Berman. He has also held positions at Banca Di Roma, The First Boston Corporation and Merrill Lynch and Co. Hemant holds a B.A. from the University of Delhi and his M.B.A. from Columbia University.
Wim Vandenhoeck
Start Date
Tenure
Tenure Rank
Sep 28, 2016
5.67
5.7%
Wim Vandenhoeck, Portfolio Manager, who has been associated with Invesco and/or its affiliates since 2019 . Prior to joining the firm, Mr. Vandenhoeck was an Portfolio Manager with the Global Debt team in OppenheimerFunds Inc. since 2015, principally conducting interest rate and foreign currency analysis in emerging markets. Prior to that, Wim was a partner at APQ Partners LLP, an emerging markets investment adviser based out of London. Prior to that, he was an asset manager at GLG Partners LP in London, where he focused on emerging market fixed income strategies. Before GLG, he was a partner at Six Seasons Global Asset Management LLC, Aravali Partners LLC and Havell Capital Management LLC, all in New York, mainly managing fixed income macro strategies, often with a focus on emerging markets. Earlier in his career, he has held positions at Bank Brussels Lambert and Paribas Bank. Wim is also a frequent speaker on the topics of uncovering emerging market fixed income opportunities and analyzing the risk within. Wim holds a B.A. from Katholiek Universiteit Leuven and his M.B.A. from Cornell University.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.15 | 23.87 | 6.5 | 6.11 |
