Now a strategic asset class, Emerging Market Corporate debt rivals the US High Yield market in size. The outlook for the asset class is bright as issuance now currently and is expected to grow over the foreseeable future, outpacing EM external USD sovereign debt.
Eric Wong – Lead portfolio manager of the FF-Emerging Market Corporate Debt Fund, looks to guide investors on the Emerging Market Debt opportunity and explain why the yield and rating of this exciting new opportunity is so attractive. Eric will look to also elaborate on “Why?” and “How?” the EM Corporate have navigated the recent period of volatility, delivering superior risk adjusted rewards to investors who diversify their EM external debt holdings.
On this webcast, Eric will look to explain how FF - Emerging Market Corporate Debt Fund has outperformed both its investment index and market peers. Including the FF-EM Corporate Debt Fund, the Fidelity EM debt franchise has exhibited a strong track record across its funds reflecting the strong investment philosophy of the team. High quality and consistent outperformance can be delivered through a repeatable and robust investment process, supported by relative value and security selection which is driven from intensive bottom-up credit research.
After a strong performance rally year to date Emerging Market Debt recently saw a softening in performance in the month of September. Despite this recent bout of volatility the Fidelity Emerging Market Debt Funds (including local and hard currency sovereigns) have both been performing well and continue to outpace their respective investment indexes. Focusing on EM $ Sovereigns and EM local currency debt, Steve Ellis looks to explain the why the team has achieved such good results and his outlook, with respect to positioning, in dealing with potential volatility heading into the year end.Read more >
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Supported by lower core market yields investors have been driven to scramble for yield and carry. Yet, this strong technically driven rally has occurred against a wider environment of disappointing global growth momentum, and EM fundamentals remain weak. So the ongoing carry trade remains a powerful force, yet it is fragile. How long can it last? Are valuations looking potentially stretched? Please join Steve Ellis in his latest outlook for global Emerging Market Debt.Read more >
Please join us for the standing quarterly Emerging Market Debt (EMD) outlook webcast of Steve Ellis.
Steve is the Lead Portfolio Manager of the investment teams that run the FF-Emerging Market Debt and FF-Emerging Market Local Currency Debt Funds.
Since the end of the 2013 year, amid lacklustre EM growth momentum, negative news headlines and weakened FX regimes, the team has maintained its “out-of-consensus” view on EMD risk assets. Our viewpoint has been that EM economies, albeit strained, were not in fully-blown crisis. We have potentially seen the worst of the growth scare and despite ongoing retail mutual fund redemptions markets would stabilise due to large institutional investors remaining invested. Market consensus has swung around to our viewpoint. We now believe that investors should watch for potential recovery in the economies that were hardest hit over the last twelve months. That said, the EMD universe continues to see a significant number of headlines, from Venezuela to Ukraine, Russia and China. This continues to contribute to the cloudiness surrounding EM debt markets.