All Emerging Market Debt articles
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NewsPassive and sustainable investing in EMD: hard to combine for small funds
EMD had long been considered the last frontier for passive investors, as the asset class was seen as insufficiently liquid and therefore hard to replicate
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News
Varma diversifies EM bonds away from govvies with $50m in corporates
Finnish pensions heavyweight makes first foray into EM corporate bonds, buying into HSBC AM’s bottom up fixed-income fund
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Interviews
Pension funds on the record: Emerging market debt
At a time of high volatility in interest rates, currencies and GDP, two seasoned investors in emerging market debt discuss their approaches
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Asset Class Reports
Emerging market debt: managers face choppy waters
Some see opportunities as investors have exited the asset class but emerging economies continue to face divergent trajectories
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Asset Class Reports
Emerging market debt: China government bonds
The outlook for Chinese government debt is looking less attractive
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Asset Class Reports
Emerging Market Debt Report (October 2022)
This year has seen hefty losses on the main emerging market debt indices, in both hard and local currency denominated bonds. Investors are left assessing whether these price moves are justified. Or has the market overreacted to US rate rises and the war in Ukraine, leaving markets as a whole underpriced?
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Features
China calls the tune for emerging markets
If President Xi Jinping mismanages China, the careers of many emerging market asset managers could be over. It would also mean emerging markets as an asset class would become irrelevant, at least according to Xavier Hovasse, head of emerging markets at the French fund management house Carmignac, who has devoted his career to seeking opportunities in emerging markets.
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News
APG invests $750m in new SDG-focused EM private credit fund
The money will be invested in loans originated and structured by international development banks, with a focus on financing sustainable projects
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Asset Class Reports
US banks lead a boom in debt issuance
Capital requirements and locking in cheap funding have prompted banks to issue more bonds, but Europe lags behind
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Asset Class Reports
Emerging Market Debt Report
Our opening article in this report looks at emerging market private credit. In EMs there is a $100bn corporate funding gap with 90% of lending through banks. But we find EMD managers broadly cautious overall, particularly on China, with interviews conducted before the Evergrande story broke. Lastly, we look at Latin America, where investors encounter populism and social unrest but sustainability bond issuance is booming.
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Asset Class Reports
The next frontier for private credit
Global managers are making a strong case for investment in private credit issued by emerging market companies
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Special Report
Commentary: A mile in Xi’s shoes
The shift from ‘trade war’ to ‘tech war’ between China and the US has forced China’s policy makers to deal with the country’s three key vulnerabilities
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Asset Class Reports
Emerging Market Debt: Populism battles ESG in Latin America
Many policies championed by populist leaders in Latin America are in direct conflict with the ESG goals of global investors
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Asset Class Reports
Asset Allocation: Mixed prospects emerging
COVID and political risks may have affected EMs in different ways but there are still many opportunities in such a diverse asset class
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News
Migros Pensionskasse adds EM bonds to strategic asset allocation
Migros’ asset management goals include a reduction of CO2 intensity of its equity and corporate bonds portfolios by 2% per year
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News
Dutch insurer seeks managers for small-cap equity
Plus: Discovery search for global EM fixed income
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News
Danske saw ‘high investor interest’ for Alecta-bought social bond
Could take time for institutions to find right place in mandate for this type of impact investment, says Hökfelt
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News
Alecta invests $100m in part state agency-guaranteed EM social bond
Swedish pension fund giant achieves the scale it desires through placement
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Features
Rising interest in EM debt
The weak dollar and low US interest rates are pushing governments and companies in emerging markets (EMs) to issue growing volumes of dollar-denominated debt.
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Opinion Pieces
Capital will drive best practice in reporting
The European Commission’s review of the Non-Financial Reporting Directive (NFRD), scheduled for publication shortly, comes at a time of increased scrutiny of both corporates and those who supply them with debt and equity.
