An experienced and dedicated emerging markets debt team that complements our global fixed income capabilities.
The Emerging Markets Debt platform’s fundamental bottom-up investment discipline encompasses EM sovereign, local, corporate debt and global currencies. Our team of sovereign country specialists, corporate sector specialists and quantitative analysts collaborate to deliver solutions for our clients in dedicated asset classes, as well as blended strategies.
Emerging Markets Local Debt
AUM: $3.7 billion (31 December 2020)
Our experienced portfolio management team combines a quantitative approach based on inflation targeting and export-based currency modeling with extensive macroeconomic and fundamental experience.
Emerging Markets Sovereign Debt
AUM: $3.5 billion (31 December 2020)
Our seasoned team combines fundamental analysis with quantitative modeling, backed by a rigorous risk management platform.
Emerging Markets Corporate Debt
AUM: $4.8 billion (31 December 2020)
Our integrated team combines bottom-up analysis with top-down macro insights, supported by one of the deepest credit research teams in the industry.
Rendement total moyen de la dette des marchés émergents
AUM: $2.1 billion (31 December 2020)
Notre équipe de gestion de portefeuille à travers le monde combine une répartition descendante [top down] des actifs et une sélection ascendante [bottom up] de titres afin de pouvoir investir sans contrainte dans nos stratégies de dette des marchés émergents.
Has EM Debt Reached a Turning Point?
There are reasons to believe EM growth will surprise to the upside in the coming months, suggesting the asset class may be poised for strong performance.View
Finding the Right Sovereign ESG Indicators: A Greek Tragedy?
On our mini odyssey through the vast seas of sovereign ESG indicators, we sought to identify data from reliable third parties—which would provide benchmarking criteria between countries and also serve as an effective screening tool to identify outliers.View
EMD: Light at the End of the Tunnel
The rollout of the COVID vaccine may be slower across emerging markets, meaning restrictions will likely remain in place for the foreseeable future. But there are bright spots—including in local currencies and companies that have adapted to this ‘new normal’.View
EM Debt: Where is the Value Today?
Barings’ Cem Karacadag discusses the outlook for emerging markets debt, including the uneven impact of the pandemic, how rising interest rates and fluctuating currencies may influence the picture, and the increasing role that ESG is playing in identifying winners and losers.View
EMD: A Strong Tailwind, But Risks on the Horizon
Segments of the EM debt market have been bright spots in fixed income this year. Will EMs outperform DMs in the months ahead—or are the risks too great? It may come down to country and credit selection.View
Are EM Countries Able (and Willing) to Pay Their Debt?
Capitalizing on opportunities in EM debt will not only require traditional fundamental analysis to determine countries’ ability to satisfy their debt obligations, but also—and perhaps just as importantly—an understanding of their willingness to pay.View
The Crisis No One is Talking About
The migration patterns stemming from Venezuela’s economic collapse provide key ESG insights, especially for Colombia and other neighboring countries, and particularly when compared to the case of Syrian refugees in Turkey.View
Can EM Issuers Pay Their Debt—And Will They?
Emerging markets have been hit hard by COVID-19 but opportunities exist for investors able to navigate choppy waters. In this episode, Dr. Ricardo Adrogue assesses EM issuers’ ability to satisfy their debt obligations—and just as importantly, their willingness to do so.View
Three Reasons for EM Short Duration Debt
Emerging markets debt has shown much resilience despite facing its share of pandemic-induced difficulties. A short-dated approach, in particular, can provide an opportunity to pick up incremental yield and diversification, with less volatility.View
A Bright Spot in Higher-Yielding EM Corporate Debt
Many EM regions have been engulfed in uncertainty for weeks or months. While these situations certainly represent risks, we also continue to find value—often in globally diversified companies that have been unfairly punished by markets because of where they’re domiciled.View
2020: An Inflection Point for EM Currencies?
With the financial crisis more than a decade behind us, the global financial system seems poised to begin re-leveraging. This process, which would likely take years to play out, would provide a source of funding for EM currencies, and represent a significant tailwind.View
EM Debt: Warding Off Headwinds with Active Management
Ricardo Adroguè, Head of Global Sovereign Debt and Currencies, addresses the many risks facing the global economy—specifically China, Argentina and the Middle East—and explains why active management is critical to performance.View
ESG for Sovereigns: One Size Does Not Fit All
ESG has risen to the forefront of many investment strategies over the last decade. At Barings, our EM Sovereign Debt team takes a country-by-country approach, assessing ESG factors in the context of sustainability and—ultimately—creditworthiness.View
EM Debt: Navigating the Geopolitical Noise
From the Middle East to China to Argentina, investors face no shortage of geopolitical risks and negative headlines. But is there still value to be found across emerging markets? Dr. Ricardo Adrogué weighs in.View
Emerging Markets Debt: Taking a Hard (Currency) Stance
EMD performance was muted in Q3, but valuations remain attractive and emerging economies are growing at a measured pace. We continue to favor hard currency assets, which are benefitting from lower rate expectations.View
Emerging Markets Sovereign Debt: Does Active Management Pay?
The performance of EM Sovereign Debt can—and does—vary widely from country to country. Barings’ Cem Karacadag explores how an active approach can be key to selecting the most attractive opportunities, while also avoiding the bad apples.View
Tempering Enthusiasm for Mexico’s Corporate Bond Market
Omotunde Lawal, Head of EM Corporate Debt, reports back from a recent trip to Mexico, where the Barings team conducted on-the-ground research through meetings with a wide variety of corporate issuers, economists and ratings agencies.View
EM Debt: Investing with Cautious Optimism
Sovereign debt outperformed in Q1 as geopolitical headlines continued to garner attention and commodities rallied. Risks remain for the asset class but some notable headwinds have now become tailwinds.View
EM Debt: Navigating a Shifting Macro Backdrop
After a rocky 2018, the picture may be brightening for emerging markets debt. From rising rates to trade wars, some of last year’s headwinds look to be receding, at least for now. Barings’ Ricardo Adroguè and Omotunde Lawal highlight opportunities they’re currently seeing.View
EM Debt—A Brightening Picture?
Barings’ Ricardo Adroguè and Omotunde Lawal highlight opportunities they’re seeing from Mexico and Brazil to more challenged geographies like Turkey and Argentina—and provide insight into how they’re thinking about political hotspots like Venezuela.View
Is it Time to Consider a Blended Approach to EMD?
How can investors tap into the diverse opportunities within EM debt? Ricard Adrogué, Head of Emerging Markets Debt and Omotunde Lawal Head of Emerging Markets Corporate Credit Research, weigh in.View