Nomura Funds Ireland – Emerging Market Corporate Bond Fund
Emerging Market Corporate Bond Strategy
The Nomura Funds Ireland plc – Emerging Market Corporate Bond Fund seeks to add value through both bottom-up credit selection and top-down country allocation, harnessing our corporate credit and emerging markets sovereign research expertise.
NCRAM: Our Specialist Credit Research Investment Boutique
The Nomura Funds Ireland plc – Emerging Market Corporate Bond Fund is managed by Nomura Corporate Research and Asset Management Inc. (“NCRAM”), a Nomura Asset Management affiliate. NCRAM was established in 1991 and is an analyst-driven investment boutique that specialises in high yield and emerging markets credit. NCRAM has managed emerging markets credit portfolios for more than 25 years.
Benefits and Differentiators
The “Strong Horse” Philosophy
NCRAM believes a total return approach driven by research is the best way to generate alpha in emerging markets credit. We describe our investment philosophy as the “Strong Horse” philosophy. Strong Horse companies can carry their debt load through good times and bad. These companies generally have a positive ability to de-lever their balance sheet by generating strong, positive cash flows through sustainable business practices. The creditworthiness of these companies tends to increase over time, as will their credit ratings.
Our Investment Approach
- Fundamentally driven, credit intensive research analysis.
- Proprietary sovereign analysis targeting alpha generation and risk mitigation through country allocation.
- Seeks to promote certain environmental characteristics with a binding constraint on carbon emissions.
- Attempts to avoid credit losses.
- Seeks opportunistic credit quality positioning during the various phases of the credit and economic cycles.
- Diversified portfolio of issuers.
- Disciplined risk management through country/sector/industry limits and individual holdings limits.
- The fund is an Art. 8 fund according to the EU Sustainable Finance Disclosure Regulation (“SFDR”).
Potential significant risks
Emerging markets or less developed countries may face more political, economic or structural challenges than developed countries. Investment in high yield securities generally entails increased interest rate, credit, liquidity and market risk. The Sub-Fund may invest in sub-investment grade debt securities, as well as securities without rating, in the expectation that positive returns can be made, however this may not be achieved.
The Emerging Market Corporate Bond Fund targets attractive risk-adjusted returns delivered through both income and capital gains.
USD 29.4 million (as at 31.10.2023)
Nomura Asset Management U.K. Ltd.
|Lead Fund Manager||
J.P. Morgan CEMBI Broad Diversified Index
Ireland (Nomura Funds Ireland Plc)