IPE institutional market survey: Emerging market debt 2026

Top 10 managers- European institutional assets (€m)

The headline figure from IPE’s survey of emerging market debt (EMD) assets invested on behalf of global and European institutions has been volatile in recent years.

Global institutional EMD assets have increased for the second year running, but are about €83bn off the 2019 peak, while European institutional EMD assets have hovered above €200bn for the past seven years, peaking in 2021.

Our survey suggests that European institutions have seen their allocations to EMD decrease by almost 12% since last year. In recent years, PIMCO has climbed to the top spot in the ranking of managers of global institutional EMD assets, taking over from PGIM and BlackRock.

Full data access 
This summary shows headline data. The full dataset includes more detailed data on individual managers and is available to subscribers at ipe.com/research. To subscribe to IPE visit ipe.com/membership and for further information about the research or to participate in future surveys, contact dominic.gane@ipe.com. 

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IPE covers a good variety of very current and relevant topics. It is good to read the high-level, independent and objective perspectives from pension funds in other European countries; many of them are dealing with the same issues as we are, so it is interesting to learn from their experiences, especially when they are ahead of where we are on the curve.

Markus Schaen , Senior Fund Manager, MN,
The Netherlands