![Ashmore fund tripled down — then Argentina, Lebanon and Ecuador tripped it up](https://s.wsj.net/public/resources/images/FN-AI981_FN_ARG_M_20191122044811.jpg)
A large emerging markets bond fund that bet almost 40% of its investors’ money in a trio of risky countries is struggling as all three economies fall into crisis simultaneously.
The Ashmore SICAV Emerging Markets Short Duration Fund has lost about 5% in the past three months, principally because of bond holdings in Argentina, Ecuador and Lebanon, according to data from Morningstar.