Emerging Markets Corporate Debt
- AUM $4 billion
(30 June 2020)
- Inception Date 2013
- Benchmark J.P. Morgan Corporate EM Bond Index Broad Diversified
- Vehicles Available
- UCITS Fund
- Separate Account
We believe our combined approach of in-depth bottom-up credit analysis with top-down macro views is the key to identifying attractive risk-adjusted investment opportunities.
The Corporate Team’s strategy seeks to generate consistent positive excess returns through the economic cycle using a rigorous bottom-up analysis and structured evaluation of security selection opportunities. We attempt to exploit market imperfections by seeking to: identify favorable credit stories, capitalize on relative value opportunities, and avoid credit events.
Our Value Add
Experienced emerging markets debt team provides coverage across the universe of Emerging Markets corporate bonds. The EM Corporate team is also supported by an extensive firm-wide fundamental research platform of more than 60 analysts.
- Credit-Intensive Approach:High-quality fundamental bottom-up credit and sector analysis made possible by the limited number of credits covered by any given analyst. This approach is enhanced by our established relationships with issuers and policy makers.
- Consistent Process: Rigorous and disciplined credit underwriting process and Investment Committee approach, which includes a global, consistent, and comprehensive views across EM asset classes.
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
EMD: Further Room to Run?
Emerging markets debt rallied strongly in the second quarter—and while risks remain ever-present, the asset class may benefit from continued monetary stimulus and the potential for a sharper economic bounce-back in the second half of the year.View
The EM Default Picture: More Nuanced Than Headlines Imply
The coronavirus pandemic is creating short-term and long-term challenges for emerging markets (EMs). But not all sovereign and corporate issuers can be painted with the same broad brush, and placing too much weight on overly dire forecasts may result in missed opportunities.View
EM Debt: Downturns, Defaults & Diamonds in the Rough
Barings’ Omotunde Lawal and Cem Karacadag explain how COVID-19 is impacting the economies of emerging markets, and how lower oil prices and loose monetary policies may influence the future default picture.View
EM Short-dated Debt: A Diamond in the Rough?
COVID-19 and lower oil prices have led to indiscriminate selling across EM corporate debt, creating a potentially compelling opportunity in the shorter-dated, higher-yielding segment of the market.View