Almost a decade after the global financial crisis, investors continue to contend with slow global economic growth.
Low- and high-risk parts of market under pressure
Joined firm in December for launch
Reporting to Colm McDonagh
EMs on a 'whopping' 30% discount
There are attractive investment opportunities among high-yielding emerging market (EM) eurobonds in our view, writes Koon Chow, an EM macro and FX strategist at Union Bancaire Privée (UBP).
Follows US election result
Taking a long-term view
Emerging market fixed income has been one of the best performing assets classes of 2016 and this can be seen from improving industrial production and PMI indicators, showing that emerging economies are once again widening the gap to industrial countries....
Emerging market debt has gained more than 15% in 2016, outperforming all other major asset classes and markets, and confounding the roundly pessimistic expectations at the start of the year.
Renewed expectations of a US interest rate rise and the uncertain outcome of the imminent US election have recently contributed to more moderate returns from emerging market bonds after their solid year-to-date performance.
Outflows of $727m this week
Reducing dependency on oil
Herd mentality in markets
Join from BNP Paribas and VTB Bank
The 'growth gap' between emerging and developed markets is widening in the former's favour and emerging markets are expected to grow by a robust 4.5% this year, according to Muzinich's Warren Hyland.
Region 'in better shape' than DM counterparts
Underweight to the region
AUM fell to £11m
Reports to Will Ballard
Firm favours specialist boutique niche
Created GEM fixed income division last year
Assets under management surpass $50bn
EM duration offering attractive risk/returns