1Q
Absolute Return EMD and
Currency Fund
2016
Investor: SARNX | Advisor: SARVX
Fund overview
Morningstar Ratings
— Focuses on generating absolute returns, while looking to preserve capital on a rolling 12 month basis
««««
— Investment process is based on fundamental, quantitative, technical and sentiment analysis, and has
country selection as its cornerstone
Out of 279 funds in the Emerging
Markets Bond Category
— Extensive in-house research is applied across a broad EMD universe, as well as across the debt sectors
and currencies of those countries
Total Net Assets ($million)
— Actively managed with the ability to hold up to 40% in cash
Investor Shares
Fund: 76.9
— A long-only fund with no leverage
Number of Holdings
Fund statistics
Fund: 59
Regional allocation (%)
Country exposure
Asia
20.0%
Argentina
Eastern
Europe
22.0%
Africa
and
Middle
East
7.1%
Latin
America
36.5%
Cash
3.8%
G3
10.6%
Source: Schroders, as of March 31, 2016.
Regional and country allocations and
exposures are subject to change and should
not be viewed as an investment
recommendation. May not add to 100% due
to rounding.
Brazil
External Local Currency Total Hedge
Debt Debt
0.5
0.5
2.8
10.3
Chile
Colombia
2.6
Ecuador
1.0
Mexico
0.8
India
Indonesia
0.5
0.9
4.6
4.2
7.3
9.2
Corporate Exposure (%)
Fund: 0.00
10.0
2.1
5.3
Korea
Malaysia
US Dollar Exposure (%)
4.7
6.2
3.0
3.0
4.1
4.1
Fund: 26.72
Thailand^
1.9
1.9
-0.5
Czech Rep.†
3.1
3.1
-3.0
Hungary
3.5
Poland^
4.2
1.5
5.0
4.2
Russia
2.1
7.1
0.5
South Africa
2.0
4.5
0.6
7.1
3.8
6.9
10.6
56.0
27.5
96.1
G3
-3.1
9.6
Overall Risk Exposure
Total % of Portfolio
12.7
Cash/T-Bills
Total
Fund: 4.42
13.1
4.6
1.0
2.6
Effective Duration (Years)
Total net assets include all share classes of
the Fund. Fund characteristics are not
static and should not be viewed as an
investment recommendation. Since
Inception data for funds with mid-month
inception dates is based on first month-end
data.The Overall Morningstar RatingTM is
derived from a weighted average of the
performance figures associated with its 3-,
5-, and 10-year (if applicable) Morningstar
Rating metrics.
-6.5
3.8
99.9
Source: Schroders. † Hedged, ^ Partially Hedged
Data as of March 31, 2016
NOT FDIC INSURED | MAY LOSE VALUE | NO BANK GUARANTEE
Schroder Absolute Return EMD and Currency Fund is a series of shares of Schroder Series Trust.
schroderfunds.com
Please consider a fund’s investment objectives, risks, charges and expenses carefully before investing. For a free prospectus, which contains this and other
information on any Schroders fund, visit www.schroderfunds.com, call your financial advisor or call (800) 730-2932. Read the prospectus carefully before investing.
Schroder Absolute Return EMD and Currency Fund
Performance* (%)
As of March 31, 2016
11
10
9
8
7
6
5
4
3
2
1
0
Investor Shares
Advisor Shares
7.51
Fees and Expenses
(%) as of
March 1, 2016
3-Month USD Fixed Libor
Investor
Shares
Advisor
Shares
Gross
1.34
1.59
Net
1.15
1.40
7.48
2.28
2.06
0.41
0.16
QTD
0.30
1 Year
0.09
0.99
0.30
3 Year
0.77
0.34
Since Inception
YTD 2016
2015
2014
2013
2012
Investor Shares
7.51
-6.03
-0.44
-0.26
3.90
Advisor Shares
7.48
-6.30
-0.52
-0.51
3.57
3 -Month USD Fixed Libor
0.16
0.32
0.24
0.27
0.44
Performance shown represents past performance. Past performance is no guarantee of future
results and current performance may be higher or lower than the performance shown. Principal
value and investment returns will fluctuate so that shares, when redeemed,
redeemed, may be worth more or
less than their original cost. For the most recent monthmonth-end performance, visit
www.schroderfunds.com or call (800) 730730-2932. Performance for periods less than one year is
not annualized and performance of periods greater than one year
year is annualized.
In order to limit the Fund's expenses, the Fund's
adviser has contractually agreed through February
28, 2017 to waive its fees, pay Fund operating
expenses, and/or reimburse the Fund to the extent
that Total Annual Fund Operating Expenses (other
than acquired fund fees and expenses, other
indirect acquired fund expenses, interest, taxes,
and extraordinary expenses), for the Fund's Investor
Shares, exceed 1.15% of Investor Shares' average
daily net assets and, for the Fund's Advisor Shares,
exceed 1.40% of Advisor Shares' average daily net
assets. The expense limitation may only be
terminated during its term by the Board of Trustees.
* Please see below for notes accompanying this update. The notes include a description of the index and certain risks
associated with investing in the fund.
Fund information
Management team
Investor Shares
Advisor Shares
CUSIP
808090633
808090641
Inception Date
12/15/2011
12/15/2011
— Highly focused, dedicated team of EMD specialists based in London
— Abdallah Guezour, Head of EMD, manages a team of three fund
managers who have worked together managing absolute return EMD
portfolios at Schroders for over 15 years
— The team manages $3.8 billion in EMD assets globally
Risk: Principal Risks. It is possible to lose money on an investment in the Fund.
Fund. The Fund will be affected by the investment decisions, techniques, and
risk analyses of the Fund's investment team, and there is no guarantee that the Fund will achieve its investment objective. The values of the investments
held by the Fund may fluctuate in response to actual or perceived issuer, political, market, and economic factors influencing the financial markets generally,
or relevant industries or sectors within them. Fluctuations may be more pronounced if the Fund invests substantially in one country or group of countries or
in companies with smaller market capitalizations. These risks exist to a greater extent in emerging markets than in developed markets. Investments in small
and medium capitalization companies generally carry greater risk than is customarily associated with larger capitalization companies, which may include,
for example, less public information, more limited financial resources and product lines, greater volatility, higher risk of failure than larger companies, and
less liquidity.
Other principal risks of investing in the Fund include: Portfolio Turnover, Currency, Interest Rate, Credit/HighCredit/High- Yield, NonNon-Diversification, Valuation
Risk, Inflation/Deflation Risk, Derivatives, Liquidity Risk and Convertible Securities. The use of derivatives involves risks different from, or possibly
greater than, the risks associated with investing directly in the underlying assets. Please see the prospectus for a full description of the risks associated with
the Fund.
Important Information: Source: Schroders, SEI. Morningstar: The Investor Shares of the Absolute Return EMD and Currency Fund was rated 4 stars overall (out of 279 funds),
4 starsTMfor the 3 year period (out of 279 funds) within the Emerging Markets Bond category. For each fund with at least a 3-year history, Morningstar calculates a Morningstar
Rating based on a Morningstar Risk-Adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and
redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next
22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars and the bottom 10% receive one star. (Each share class is counted as a fraction of
one fund within this scale and rated separately, which may cause slight variations in the distribution percentages.) The Overall Morningstar Rating for aTMfund is derived from a
weighted average of the performance figures associated with its three-, five-, and ten-year (if applicable) Morningstar Rating metrics. Morningstar Rating is for individual share
classes only. Other classes may have different performance characteristics. Past performance is no guarantee of future results. ©2016 Morningstar, Inc. All Rights Reserved.
The Information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; 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. Morningstar, Inc. has not
granted consent for it to be considered or deemed an "expert" under the Securities Act of 1933. Performance: Total return figures are net of fees and expenses, which includes
a .25% distribution fee paid under rule 12b-1 for Advisor shares only, and reflect reinvestment of all dividends and distributions at net asset value. As described in the
prospectus, during certain periods shown, the expenses borne by the Fund were limited by the investment adviser; otherwise total return would have been lower. Index: The 3month USD Fixed Libor is the average interest rate that lending banks in London charge when lending to other banks. The Libor is an average of the interest rate banks pay to
borrow for 3 months. Investors may not invest directly in an Index. Sector/Securities: Security holdings and country breakdowns indicate characteristics as of a point in time
and may not be representative of the Fund's current or future investments. Portfolio sectors/securities and allocations are subject to change at any time and should not be
viewed as a recommendation to buy/sell. Schroder Fund Advisors LLC, Member FINRA, SIPC – 875 Third Avenue, New York, NY 10022-6225 (800) 730-2932
FS-EMDFND