Morgan Stanley Emerging Markets Debt

  • Trading Symbol: FPRMC
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Morningstar® Snapshot*

AS OF 9/30/2014; MORNINGSTAR CATEGORY: EMERGING MARKETS BOND
Returns 5 out of 5, High Returns
LOW AVG HIGH
Risk of this Category Category Risk Rating:5, where 1 is Lower and 10 is Higher
LOWER HIGHER

*Data provided by Morningstar. Please click on the indicator above to learn more about comparison groups and methodology.

Performance

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AS OF 9/30/2014
Average Annual Returns
YTD (Daily)* 1 Yr 3 Yr 5 Yr Life
FPRMC +6.08% +6.42% +6.02% +6.21% +6.38%
*AS OF 10/23/2014; Value is cumulative
SUBACCOUNT INCEPTION 5/1/2006

Hypothetical Growth of $10,000

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AS OF 09/30/2014; MORNINGSTAR CATEGORY: EMERGING MARKETS BOND
Shows growth of hypothetical $10,000 investment in Morgan Stanley Emerging Markets Debt fund over the selected time period

The chart illustrates the performance of a hypothetical $10,000 investment made in the fund ten years ago or on commencement of operations (whichever is later). Figures include reinvestment of capital gains and dividends, and reflect the effects of the annual annuity charge and the underlying fund's expenses. Figures do not reflect the effects of any applicable redemption fees, maintenance charges, or surrender fees, which would lower these figures. This chart is not intended to imply any future performance of the fund.

The performance data featured represents past performance, which is no guarantee of future results. Investment returns and the principal value of a variable annuity will fluctuate; therefore, you may have a gain or loss when money is withdrawn or received. Fund performance fluctuates and currently may be significantly higher or lower than stated.

Fund Manager(s)

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Eric J. Baurmeister since 4/30/2002

Fund Overview

Objective

The investment seeks high total return.

Strategy

The fund invests at least 80% of the fund's assets in debt securities of issuers located in emerging market or developing countries. It may invest, to a lesser extent, in securities denominated in currencies other than U.S. dollars. The fund may invest in fixed income securities that are rated below "investment grade" or are not rated, but are of equivalent quality. It may, but it is not required to, use derivative instruments for a variety of purposes, including hedging, risk management, portfolio management or to earn income. The fund is non-diversified.

Details

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Morningstar Category
Emerging Markets Bond
Subaccount Inception
5/1/2006
Unit Value
$16.86
10/23/2014
5/1/2014
Turnover Rate
88%
12/31/2013
Net Assets ($M)
$73.43
9/30/2014
12 Month Low-High
$15.68 - $17.34
9/30/2014

Top 10 Holdings

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AS OF 6/30/2014
Top 10 Holdings
Russian Federation 7.5% 7.97%
Us 5yr Note (Cbt) Sep14 Xcbt 20140930 6.17%
Petroleos De Venezuela Sa 6% 4.65%
Sinopec Grp Overseas Dev2013 4.375% 3.37%
Republic Of Turkey 5.625% 3.21%
Majapahit Hldgs B V 7.75% 2.88%
Philippines Rep 9.5% 2.52%
Hungary Rep 5.75% 2.49%
Poland Rep 3% 2.48%
Petroleos Mexicanos 5.5% 2.28%
% of Total Portfolio 38.02%
Total # of holdings: 111 as of 6/30/2014

Quarter-End Average Annual Total Returns

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AS OF 9/30/2014; *SUBACCOUNT INCEPTION 5/1/2006 Glossary definition opens in new window.

EXPENSE RATIO (GROSS):
1.06% AS OF 5/1/2014
1 Yr 3 Yr 5 Yr 10 Yr Life*
Morgan Stanley Emerging Markets Debt 6.42% 6.02% 6.21% -- 6.38%

© 2012 Morningstar, Inc. All rights reserved. The Morningstar information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or redistributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Fidelity does not review the Morningstar data and, for fund performance, you should check the fund's current prospectus or other product materials for the most up-to-date information concerning applicable loads, fees and expenses.