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LU2138387506
Amundi Emerging Markets Green Bond Fund

Fixed income
Emerging markets
USD Cash
Accumulating

Invest with

USD Cash

Payout type

Accumulating

Risk rating

About this fund

Description

The Fund seeks to increase the value of investment and to provide income through investment in Sustainable Investments, primarily in Emerging Markets green bonds denominated in USD or other OECD currencies.

Key information

Annual report

Key fact sheet

Prospectus

Factsheet

Our perspective

Why we think this fund is best-in-class

Product

Offers exposure to green projects in Global Emerging Markets through corporate bonds. Potentially creating a positive impact as green bonds offers an additional source of financing to projects facilitating the transition to a low-carbon environment. Emerging markets green bonds represent a growing investment universe with 50 emerging market economies having issued green bonds by the end of 2021. Authorised by HK SFC to be an ESG fund; also classified as an Article 9 fund under the European Sustainable Finance Disclosure Regulation.

People

Managed by Amundi, one of the pioneers in investing in emerging markets green bonds; their first foray into the space was through the launch of the innovative Amundi Planet Emerging Green One Fund (AP EGO) in 2018 in partnership with the IFC. It is a close-ended fund seeking to engage the potential issuers and encourage the issuance of emerging market green bonds. Now, Amundi manages a sizable book of emerging market green bonds across multiple strategies. Run by three portfolio managers, who are well-supported by a team of more than 15 emerging markets macro research analysts and credit analysts, as well as more than 25 members in the ESG analysis team.

Performance

There isn't a green bond benchmark that exists in an open format. Hence, the Fund's benchmark - 3 Month USD Libor + 2.50% serves as an indicator for assessing the Fund's performance. The Fund may be vulnerable to short-term market developments particularly when several tail risks occur simultaneously or within a relatively short time frame.

Process

Combines bottom-up and top-down approaches, with more focus on the bottom-up selection, incorporating credit and ESG analysis on issuers. Conducts internal ESG rating for the green bond issuers, internal assessment on the eligibility of green bond issuance, as well as regular review of and engagement with the green bond issuers.

Cost

Retail share class with 100% trailer fee rebated back to Endowus investors to achieve lower cost of access.

How it fits in a portfolio

Investors looking to participate in facilitating the low carbon transition of emerging markets countries would find this Fund fit for purpose. On one hand, emerging markets are most vulnerable to the impacts of climate change. They also face an unprecedented challenge of balancing decarbonisation objectives while maintaining a sustainable economic development trajectory. On the other hand, such challenges provide opportunities for positive impact generation. Investors should note, however, the Fund is subject to emerging market risk, such as macro policy risk and corporate default risk. In addition, the investment universe remains relatively narrow despite recent growth and expected future growth. Hence, it is advisable to use the Fund in a portfolio context and diversify the holding with allocation to other funds and asset classes after considering one's risk tolerance and investment goals.

Invest in this fund

Performance

Returns

NAV

Shows the total return of this accumulating fund, which includes dividends reinvested.

Total returns

Cumulative

Annualised

All Time

-2.05%

YTD

0.53%

1 month

0.53%

6 month

3.11%

1 year

6.45%

3 year

14.91%

5 year

-7.07%

As of Jan 2026

Distributions

This is an accumulating fund, so dividends are re-invested at the fund level.

Risk metrics

Max drawdown

-25.33%As of Jan 2026

Volatility

5.72%As of Jan 2026

Calendar returns

Year	Total	Jan	Feb	Mar	Apr	May	Jun	Jul	Aug	Sep	Oct	Nov	Dec
2026	-	0.5%	-	-	-	-	-	-	-	-	-	-	-
2025	6.3%	0.4%	1.4%	-0.4%	-0.0%	0.4%	1.1%	0.7%	1.0%	0.9%	0.5%	0.0%	0.1%
2024	5.2%	0.5%	-0.0%	0.5%	-1.2%	1.3%	0.7%	1.2%	1.5%	1.3%	-0.9%	0.5%	-0.5%
2023	4.4%	2.1%	-1.6%	0.2%	0.4%	-0.8%	0.5%	0.5%	-0.5%	-1.0%	-1.1%	3.2%	2.6%
2022	-17.6%	-2.7%	-5.0%	-2.4%	-2.0%	-1.8%	-4.1%	-0.2%	-0.1%	-4.8%	-1.6%	4.6%	1.3%
Load more		5 of 7

Top Exposures

Holdings

Regions

Sectors

Amundi Planet SICAV-SIF Em Gr OneSnrUSDC	5.11%
Euro Bund Future Mar 26 (2026-03-06 Maturity)	3.95%
Hungary (Republic Of) 1.75% (2035-06-05 Maturity)	3.00%
Romania (Republic Of) 5.625% (2036-02-22 Maturity)	2.13%
Fs Luxembourg SARL 8.875% (2031-02-12 Maturity)	2.03%
Agrobank Akb 9.25% (2029-10-02 Maturity)	1.85%
Bank Hapoalim BM 3.255% (2032-01-21 Maturity)	1.74%
Rumo Luxembourg S A R L 5.25% (2028-01-10 Maturity)	1.72%
DP World Crescent LTD 5.5% (2033-09-13 Maturity)	1.69%
Star Energy Geothermal (Wayang Windu) Ltd. 6.75% (2033-04-24 Maturity)	1.66%
Colbun S.A. 3.15% (2032-01-19 Maturity)	1.55%
Interchile Sa 4.5% (2056-06-30 Maturity)	1.50%
Mbank SA 0.966% (2027-09-21 Maturity)	1.46%
Abu Dhabi Future Energy Company - PJSC - Masdar 4.875% (2033-07-25 Maturity)	1.44%
SK Hynix Inc. 2.375% (2031-01-19 Maturity)	1.41%

Top exposures represent up to 15 of the fund's largest exposures for each category. Allocation percentages may not sum up to 100% and can include negative values due to rounding or trading activities by the underlying fund managers, including short positions.

Fund fees

1.88%1.17% p.a.

Save 37%

Fund facts

ISIN

LU2138387506

Fund house

Amundi

Fund size

US$143.4M

As of 03 Feb 2026

Fund inception date

07 Jul 2020

Fund class currency

USD

Fund share class

A2 USD

Oldest share inception date

07 Jul 2020

Pricing frequency

Daily

Warning statements

All investments involve risks (including the possibility of loss of the capital invested) and the price of fund units may go up as well as down.
Past performance is not indicative of future performance.
Although this fund has been authorised by the Hong Kong Securities and Futures Commission (“SFC”), it does not imply an official recommendation or endorsement by the SFC nor does it guarantee the commercial merits of the fund or its performance.
If you are in any doubt, you should clarify with us or seek independent professional advice.

Risk Warnings Investment involves risk. Past performance is not an indicator nor a guarantee of future performance or returns. Projected performance or returns are not guaranteed to materialise. The value of investments and the income from them can go down as well as up, and you may not get the full amount you invested. Rates of exchange may cause the value of investments to go up or down. Individual stock performance does not represent the return of a fund.

The value of the fund can be volatile and can go down substantially within a short period of time. It is possible that a certain amount or all of your investment could be lost.

Generic risk warnings relating to collective investment schemes

Funds are not a bank deposit and not capital guaranteed, and is subject to investment risks, including the possible loss of the principal amount invested. There is no assurance that a fund will have sufficient liquidity to meet redemption requests and that the fund's investment objectives and strategies will be achieved.

The funds' investment may involve substantial market, currency, volatility, liquidity, regulatory and political risks. Some funds may use derivatives, whether for hedging or for investment purposes. The risks associated with derivatives include counterparty/credit, liquidity, valuation, volatility and market risks. The fund's volatility may increase or decrease from its derivative usage and such fund may suffer losses from its derivative usage. Do not invest in these funds unless you fully understand and are willing to assume the risks associated with them.

Opinions Any forward-looking statements, prediction, projection or forecast on the economy, stock market, bond market or economic trends of the markets contained in this material are subject to market influences and contingent upon matters outside the control of Endowus HK Limited (“Endowus”) and therefore may not be realised in the future. Further, any opinion or estimate is made on a general basis and subject to change without notice. In presenting the information above, none of Endowus HK Limited, its affiliates, directors, employees, representatives or agents have given any consideration to, nor have made any investigation of the objective, financial situation or particular need of any user, reader, any specific person or group of persons. Therefore, no representation is made as to the completeness and adequacy of the information to make an informed decision. You should carefully consider (i) whether any investment views and products/ services are appropriate in view of your investment experience, objectives, financial resources and relevant circumstances. You may also wish to seek financial advice through a financial advisor or the Endowus platform and independent legal, accounting, regulatory or tax advice, as appropriate.

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Product Risk Rating Please note that any product risk rating (the “PRR”) provided by us is an internal rating assigned based on our product risk assessment model, and is for your reference only. The PRR is subject to change from time to time. The PRR does not take into account your individual circumstances, objectives or needs and should not be regarded as advice or recommendation to purchase, hold or sell any fund or make any other investment decisions. Accordingly, you should not solely rely on the PRR in making your investment decision in the relevant Fund.

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LU2138387506Amundi Emerging Markets Green Bond Fund

LU2138387506
Amundi Emerging Markets Green Bond Fund