Morgan Stanley Emerging Markets Debt

  • Trading Symbol: FPRMC
Close
Close

Morningstar® Snapshot*

AS OF 5/31/2016; 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.

Performance

 1, 2 More Information
AS OF 5/31/2016
Average Annual Returns
YTD (Daily)* 1 Yr 3 Yr 5 Yr 10 Yr
FPRMC +8.33% +0.94% +0.78% +3.55% +5.89%
*AS OF 6/24/2016; Value is cumulative

Hypothetical Growth of $10,000

 3, 4 More Information
AS OF 05/31/2016; 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and the principal value of a variable annuity will fluctuate; therefore, you may have a gain or loss when money is withdrawn or received.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.

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
This Fund -- 6.26% -15.19% 29.88% 9.47% 6.77% 17.66% -8.98% 2.67% -1.36% 6.60%
Benchmark 9.88% 6.28% -10.91% 28.18% 12.04% 8.46% 18.54% -6.58% 5.53% 1.23% 6.91%
Category 8.71% 4.75% -15.98% 27.85% 9.72% 3.90% 16.49% -9.00% -0.37% -4.79% 6.42%
+/- Benchmark -- -0.02% -4.28% 1.70% -2.57% -1.69% -0.88% -2.40% -2.86% -2.59% -0.31%
+/- Category -- 1.51% 0.79% 2.03% -0.25% 2.87% 1.17% 0.02% 3.04% 3.43% 0.18%

Fund Manager(s)

More Information
Eric J. Baurmeister since 4/30/2002 Jens Nystedt since 12/1/2014 Warren Mar since 12/1/2014 Sahil Tandon since 10/30/2015

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.

Risk

Foreign securities are subject to interest-rate, currency-exchange-rate, economic, and political risks, all of which may be magnified in emerging markets. The fund may invest in lower-quality debt securities that involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible. Additional risk information for this product may be found in the prospectus or other product materials, if available.

Details

More Information
Morningstar Category
Emerging Markets Bond
Unit Value
$17.43
6/24/2016
4/29/2016
4/29/2016
Net Assets ($M)
$56.28
5/31/2016
12 Month Low-High
$15.55 - $17.33
5/31/2016

Top 10 Holdings

 5 More Information
AS OF 3/31/2016
Top 10 Holdings
Us 10yr Note (Cbt)jun16 Xcbt 20160621 7.27%
Russian Federation Sr Unsecured Regs 04/22 4.5 7.26%
Sinopec Grp Overseas Dev2013 4.375% 3.87%
Petroleos De Venezuela Sa 6% 3.49%
Republic Of Turkey 5.625% 3.37%
Philippines Rep 9.5% 2.94%
Petroleos Mexicanos 4.875% 2.56%
Ukraine Government Sr Unsecured Regs 09/26 7.75 2.32%
Indonesia Rep 5.875% 2.22%
Dominican Rep 6.85% 2.06%
% of Total Portfolio 37.37%
Total # of holdings: 122 as of 3/31/2016

Quarter-End Average Annual Total Returns

 1, 2, 3 More Information
AS OF 3/31/2016; *SUBACCOUNT INCEPTION 5/1/2006 Glossary definition opens in new window.

EXPENSE RATIO (GROSS):
1.09% AS OF 4/29/2016
1 Yr 3 Yr 5 Yr 10 Yr Life*
Morgan Stanley Emerging Markets Debt 1.11% -0.40% 3.72% -- 5.39%
JPM EMBI Global 4.36% 2.43% 5.97% 7.11% --
Emerging Markets Bond -1.11% -2.80% 1.34% 3.79% --

© 2015 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.