Rating unchanged after Aberdeen Global Government Bond Fund incorporates Emerging and Asian market debt
Standard & Poor’s Fund Services today announced that its rating on the Aberdeen Global Government Bond Fund remains unchanged following Aberdeen Asset Management’s decision to incorporate emerging-market and Asian debt into the product.
The fund is currently a developed market (ex Australia) global bond fund. From June 20, 2012, the fund will be permitted to invest up to 10% in each of emerging-market debt and short-dated Asian market debt.
As both allocations will be in local currency, Aberdeen will widen the Australian dollar hedging range to 80%–120% from 90%–110%.
There will be no change to the fund’s benchmark or objectives but investors should be aware that the changes mean the fund may hold a portion of sub-investment grade and non-developed market debt from time to time.
These changes will be reflected in Aberdeen’s new product disclosure statement (PDS) issued on June 20, 2012.