Emerging Markets Debt

Uncovering opportunities in today’s most dynamic growth markets.

In our view, emerging markets debt investing is becoming increasingly attractive to a broader universe of investors, driven by a secular trend toward greater stability and improving credit fundamentals.

Our highly experienced investment team is poised to capitalize on these trends, consistently guided by our disciplined process. We combine country selection expertise with a quantitative approach to security selection, making all investment decisions as a team.

• Economic and political analysis help us assess a country’s ability and willingness to repay its debt
• Overall risk exposure is analyzed by comparing a country’s credit fundamentals with market valuations to establish relative portfolio weights
• Extensive relative value analysis is used in an effort to identify the most attractive securities in a country’s capital structure

Risk management is a focal point of our investment process:

• Well-diversified portfolios help manage risk
• Probability of investment outcomes determine country positions
• Risk is measured in units of spread duration on a security, country and portfolio basis

The strategy is available as a broad portfolio that includes non-investment grade countries and a pure investment grade emerging markets debt portfolio.

While this strategy is primarily comprised of sovereign, hard currency debt, the emerging markets team performs separate analysis of local currency sovereign and corporate debt securities to determine optimal tactical allocations in an effort to enhance return potential.