This quarterly emerging markets debt strategy update will cover recent EMD market movements and our outlook on these markets, as well as our current product positioning.
Phil Yuhn, Senior Vice President, Portfolio Manager/Engineer, will join in to talk specifically about our EMD Total Return strategy.
After a very challenging 2015, emerging market debt has produced a strong, broad-based move forward thus far in 2016. Through the month of April, components of the asset class are up anywhere from 5% to 11%. An obvious question on the minds of all professional investors: Can this trend last? Please join Jim Barrineau, Co-Head of Emerging Market Debt Relative at Schroders, in a wide-ranging discussion on the current status of this asset class. Jim will cover the factors that have propelled the market so far in 2016, the anticipated drivers going forward, and the potential tail risks to the asset class.Read more >
Learn how to collect from the experts! This information-packed webinar assists office management in preventing and recovering past due accounts.Read more >
In recent months, the downward trend in emerging markets has reversed. Register now to join Dr. Ricardo Adrogué as he identifies the factors supporting EM sovereign debt and discusses how the asset class may offer attractive opportunities over the next 12 months.Read more >
Infrastructure debt is gaining growing recognition as an asset class that can help investors secure attractive yields, good stability and valuable diversification over long horizons.
But it poses challenges as well as opportunities.
How well are these challenges understood? Should investors think about downside protection before moving into infrastructure debt?
Why should investors focus on core assets? And why should they avoid “infrastructure drift”?
How can manager selection impact on investment outcomes?
Investors increasingly are looking outside traditional government bonds in order to generate acceptable yield in what is a historical low-yielding environment.
Emerging Market Debt (EMD) has been a significant beneficiary of this reallocation. In spite of this, yields for EMD remain significantly elevated in comparison to their developed market peers, and in line with their longer term historical averages.
Much of this capital has been placed into more traditional EM issuers which in itself concentrates investors’ risks. Looking at benchmarks, the most consistent and superior long-term risk/reward outcomes in euro terms have tended to be generated by a blended allocation to hard currency, local currency and corporate EMD.
Given the significant differences in correlation of hard, local and corporate EMD versus traditional fixed income, this active and blended approach could provide investors with diversification from core fixed income holdings whilst capturing the higher yields on offer.
In this live webcast, fund manager Steve Ellis will discuss the outlook for Emerging Market Debt and how the views are reflected in his fund positioning.Read more >
At HSBC, we believe in thinking outside the box on emerging markets debt by taking a total return approach. Learn more in the video below.Read more >
Following the launch of the Emerging Market Total Return Debt Fund on 29th September, Steve Ellis, Portfolio Manager, will discuss Fidelity’s flexible approach to investing in Emerging Market Debt. Steve will discuss the benefits of a benchmark agnostic strategy while outlining the Fund’s investment process and current positioning. Against an uncertain macro backdrop, Steve will further share his market outlook for next year and highlight where he sees the most compelling opportunities.Read more >
Join Babson's emerging markets fixed income portfolio managers to discuss how the macroeconomic environment is impacting the short-term and long-term trends driving emerging markets debt.
Dr. Ricardo Adrogué, Babson’s Head of Emerging Markets Debt, Cem Karacadag, Emerging Markets Sovereign Debt portfolio manager, and Natalia Krol, a credit analyst with the Emerging Markets Corporate team, will provide insights into their respective asset classes and discuss how Babson is seeking value in today’s markets.
Dr. Ricardo Adrogué is Head of Babson's Emerging Markets Debt Group. He is also lead portfolio manager for the firm's Emerging Markets Local Debt strategy, and co-portfolio manager for the firm's Emerging Markets Sovereign Hard Currency Debt, Blended Total Return Debt Strategy and Short Duration Bond Strategies. Ricardo holds a B.A. in Economics from the Universidad Católica Argentina, an M.A. in Economics and a Ph.D. from the University of California, Los Angeles.
Cem Karacadag is co-manager of Babson’s Emerging Markets Sovereign Debt strategy and backup manager for the firm’s Local Debt strategy. Cem has 20 years of industry experience that has encompassed sovereign credit analysis, macroeconomic policy research and advice, and emerging markets fixed income strategy. Cem holds a B.A. in Economics from Tufts University and an M.A. in International Economics and European Studies from Johns Hopkins University.
Natalia Krol is a credit analyst with Babson’s Emerging Markets Corporate team in London, focusing on CEEMEA and Asia corporates. Prior to joining the firm in 2014, Natalia spent 3 years at Schroders in London, covering resources and capital goods sectors across EM, high yield and investment grade. Between 2002-2010, Natalia was a European high yield analyst at Barclays Capital in London. Natalia holds a MSc in Accounting and Finance from London School of Economics and a BSs in International Economics from Plekhanov Russian Economic Academy.
Please join Steve Ellis in this regular webcast as he looks to explain Fidelity’s Emerging Market Debt team’s views on why, in a low yield world and despite soft fundamentals, emerging market debt continues to offer an attractive income for an acceptable level of risk. The asset class has enjoyed a strong start to the year, with the supply/demand imbalance created by inflows and limited debt issuance leading yields to come in. This has resulted in an approximate 4% return for hard currency debt over the year to date. Local currency sovereign debt currently yields around 6.4%, US dollar-denominated sovereign debt yields 5.7% and US dollar-denominated corporates yield 5.2%. This compares very favorably to yields on offer from various asset classes in the developing world; particularly when considering a significant proportion of this universe is rated investment grade.
Emerging markets can throw up opportunities where one might least expect to find them. Please join Steve Ellis in discovering where the market opportunities lie.