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Emerging Markets Debt Strategy
The Emerging Markets (EM) Debt strategy’s investment objective is to outperform the JPMorgan EMBI Global Diversified benchmark by actively managing a diversified portfolio of hard currency emerging market sovereign credit and opportunistically investing in emerging market corporate and local currency debt.
Mainly USD denominated bonds of sovereign, quasi-sovereign, and EM corporates
Competitive performance versus peers and benchmark
Heavy emphasis on evaluating government policy
EM Sovereign Debt / Hard Currency STYLE
JPM EMBI Global Diversified BENCHMARK
July 1, 2013
INCEPTION
Philosophy
The team believes government policy is one of the most influential long-term drivers for emerging markets fixed income assets due to its effects on politics, economics, and markets. Thoroughly evaluating policy direction and its implications allows us to better analyze and forecast fundamental trends over our investment horizon. Fundamental country research is paired with regional and global views as well as relative value analysis to identify suitable securities within our risk tolerance.
Portfolio Construction
Invests primarily in securities of public and private sector non-U.S. issuers
Debt instruments may include corporate bonds, U.S. Government securities, foreign government securities, asset-based securities, and other obligations to repay borrowed money
Maximum of 10% in any one issuer
Maximum of 10% in any one country allocation
Maximum corporate sector allocation of 20%
Maximum local currency allocation of 10%
Strategy Facts
As of 3/31/2022
Assets Under Management
$2.5 billion
eVestment Universe
Emerging Markets Fixed Income – Hard Currency
Investment Vehicles
Separate Account
Commingled Fund
Also offered as a private fund
Management
Daniel J. Carter, CFA
Managing Director, Senior Portfolio Manager
Career Summary Ohio Casualty Group
Provident Financial Group