HSBC Global Emerging Markets Local Debt is an active bond fund from HSBC, ISIN LU0234585437.
Active
Bond
Global
Fund size (GBP) £1.8B
The Fund aims to provide capital growth and income by investing in a portfolio of emerging market bonds (denominated in local currencies).
How the fund has returned, and where it ranks among peers. Returns to Sep 2026 end, GBP net total return.
+4.5%Q3
1 year return
+8.8%Q4
3 year return
+11.1%Q3
5 year return
Chart type
Compare with
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Daily NAV, percent change from the start of the range. Source: FE fundinfo.
1 month+0.3%
3 months0.0%
Volatility, 3 years5.0%
Ongoing charge (OCF)
Fund size (GBP)£1.8B
What the fund holds
Where the money is: sectors, countries and largest holdings. As supplied by FE fundinfo, last updated 17 Oct 2026. Swipe or use the arrows for more panels.
By sector
Spot concentrations at a glance. Share of the fund's portfolio, as supplied by FE fundinfo, last updated 17 Oct 2026.
Cash54.1%
Government45.8%
Over the Counter0.1%
By country
Spot concentrations at a glance. Share of the fund's portfolio, as supplied by FE fundinfo, last updated 17 Oct 2026.
Other Locations26.9%
Mexico10.9%
India9.4%
See all countriesA free account shows the full list.
By asset class
Spot concentrations at a glance. Share of the fund's portfolio, as supplied by FE fundinfo, last updated 17 Oct 2026.
Global Fixed Interest26.9%
Mexican Fixed Interest10.9%
Indian Fixed Interest9.4%
See all asset classesA free account shows the full list.
Largest holdings
The biggest positions, and how concentrated the fund is. As supplied by FE fundinfo, last updated 17 Oct 2026.
1. TREASURY BILL12.8%
2. UNITED STATES DEPARTMENT OF THE TREASURY 0% TB 03/09/26 USD1006.5%
3. TREASURY BILL 0% 15/09/20266.5%
4. UNITED STATES DEPARTMENT OF THE TREASURY 0% TB 08/10/26 USD1006.4%
5. UNITED STATES DEPARTMENT OF THE TREASURY 0% TB 24/09/26 USD1006.4%
See all holdingsA free account shows the full list.
Macro events and this fund
Recent events linked to this fund by its country and sector exposure, and how it moved after. A measured move, not a cause.
Performance, risk and facts
Judge return, risk and cost before a client conversation. Relative return uses the chart's time range. Facts as reported by the manager.
Against its benchmark
How the fund compares with its benchmark over the same period.
Risk
How bumpy the ride has been, plus the regulatory risk rating.
Volatility, 3 years5.0%
Scale 0 to 40%
Sharpe ratio, 3 years (FE)0.21
Scale −1 to 3
Largest fall from a peak (maximum drawdown), 3 years
−4.6%
Alpha, 3 years (FE)
−4.13
Beta, 3 years (FE)
1.17
Volatility and maximum drawdown: calculated by Funds Benchmark, as at 30 Sep 2026.
Sharpe, alpha, beta: FE fundinfo, as at 6 Jul 2026.
Regulatory risk rating (SRRI)4 of 7
Fund facts
Legal and cost facts for a client note. As reported by the manager.
ISIN
LU0234585437
Fund manager
Marber, Simon, Joshi, Upadhyay, Liu, Novaro, Sueyoshi, Adjriou, Osses, Lang
Management company
HSBC Bank Australia Ltd|HSBC Global Asset Management (France)|HSBC Global Asset Management (Japan) K.K.|HSBC Global Asset Management (Malta) Ltd|HSBC Global Asset Management (Singapore) Limited|HSBC Global Asset Management (UK) Limited|HSBC Investment (Bermuda) Limited|HSBC Investment Funds (Hong Kong) Limited|HSBC Investment Funds (Luxembourg) S.A.|HSBC Saudi Arabia Limited|HSBC Securities (USA) INC.|HSBC Trinkaus & Burkhardt AG
Depositary
HSBC Continental Europe, Luxembourg
Benchmark
50% JP Morgan Emerging Local Market Index+|50% JP Morgan Government Bond Index Emerging Market Global Diversified
Ongoing charge
Share class launch date
31 Aug 2007
Domicile
LU
Fund type
open-ended fund
SRRI
4 of 7
What a sum would have become
What an amount would have grown to over the period.
n/a
Past performance is not a reliable guide to future returns. Capital is at risk. Source: FE fundinfo. Returns are GBP net total return to month end unless stated. Headline returns to Sep 2026. Fund size is shown in GBP.
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