Union Bancaire Privée has launched a ESG sovereign local-currency debt strategy, the UBAM – EM Sustainable Local Bond fund, a strategy it believes is well positioned as emerging market central banks pre-emptively tightened monetary policy last year.
The fund, which will meet the requirements of an Article 8 fund under the EU's Sustainable Finance Disclosure Regulation, will invest in bonds issued by sovereign and supranationals which are denominated in local currencies. "A lot of fixed income asset classes have recorded losses in the past few months, with the exception of EM local currency fixed income, which one client told me is the only bright spot in his portfolio…and is registering positive returns," Lamine Bougueroua, lead portfolio manager of the fund explained to Investment Week. The reason for this positive performance w...
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