What has the EMD sell-off done to your funds?

Emerging market debt suffered its worst weekly sell-off for nearly two years in June, as investors reduced local currency exposure in anticipation of a rising dollar.

The J.P. Morgan Emerging Market Bond Index (EMBI) is down 6.3% since the beginning of May, almost triple the fall seen in broader global bond indices. But what has this sell-off done to the EMD funds investors hold in their portfolios? The mean loss of the 23 UK-registered EMD funds was 7% between 1 May and 12 June, and 5.3% from the start of the month to 12 June, according to Morningstar. The biggest loss was suffered by the Baillie Gifford Emerging Market Bond fund, down 10.6% since 1 May and 7.3% over the first 12 days of June. Of the 23 funds screened by Morningstar, 16 lost...