BREM

BREM joins all the other funds in this space in offering an actively managed approach. iShares also offers a passively managed and inexpensive, in comparison, alternative in this space. It would be worth comparing the two approaches over time. BREM uses an index for guidance and risk management, but it does not seek to replicate. BREM is actively managed. It invests in bonds issued by sovereigns, public sector, and private sector entities located in or economically tied to emerging market countries, with a focus on securities denominated in hard currencies. Bonds may be of any duration or maturity, and up to 10% may be invested in bonds rated CCC or lower. Securities are selected for the portfolio based on legal domicile, principal business location, trading, or revenue/assets sourced from such countries. Derivatives may be used to provide similar exposure, to manage the portfolio, mitigate risk, or enhance returns without limitation.