We aim to generate attractive, risk-adjusted returns for our clients through an active management of credit, duration, currency and interest rate across emerging markets or Asia specific strategies.
Emerging Markets Debt and Asia Fixed Income
- Specialist experience across diverse markets with deep country-specific analysis from a team located across London, Hong Kong and Singapore
- One of the longest established Asia Fixed Income teams who have been managing portfolios since 1999
- Focus on superior credit research and forward-looking analysis
- Risk management is at the heart of every step of the investment process
Why EM Debt & Asian Fixed Income
We believe that investing for the long-term through specialist strategies based on extensive macroeconomic research combined with detailed bottom-up analysis of credit issuers and countries should be done by an experienced team that has navigated through different market cycles. The ability to identify when markets are driven by macroeconomic themes or idiosyncratic country factors helps to target superior risk adjusted returns.
How we do it
Emerging Markets Debt
The Emerging Markets Debt strategy is based on the belief that markets are often slow to price developments, both positive and negative. We believe that we can take advantage of mispricing through superior research and systematic, forward-looking analysis.
The investment process includes four steps: a global macro assessment, in-depth country research using our key factor model, consideration of the difference in expected returns from individual countries, and portfolio construction. Continuous risk and portfolio monitoring occurs at every step of the process.
Asia Fixed Income
The Asia strategy is based on the belief that the diverse and evolving markets comprising the Asia fixed income investment universe require specialist and individual country research in addition to bottom-up credit analysis in order to deliver strong investment outcomes.
We seek to deliver this philosophy through a five step investment process: A macro assessment, in-depth country research using our key factor model, a fundamental credit research and relative value assessment incorporating ESG factors, portfolio construction and daily risk monitoring.
In an evolving investment universe we believe that high quality credit research, whilst being focused on liquidity, risk management and value is critical for meeting client objectives. The disciplined process for both Emerging Markets Debt and Asia Fixed Income has been enhanced in recent years through the development of our proprietary fixed income platform, ION, which facilitates information sharing and collaboration across our teams around the world.
The team consists of 13 specialists based in London, Hong Kong and Singapore with an average of more than 15 years of industry experience.
All the team members are first and foremost analysts, with portfolio managers having dual responsibility. The team in addition benefits from three credit analysts based in Sydney with coverage of Asia corporates as well as dedicated traders in Hong Kong and London.
In addition, through ION, the team draws on the wealth of knowledge and resources from specialists across our fixed income platform which includes over 50 experienced professionals in major markets including New York, London, Hong Kong, Singapore and Sydney.
We started managing Asia Fixed Income portfolios in 1999. As part of the evolution of our Fixed Income platform, in 2012 the Emerging Market Debt team was established in London.
We believe that excellence in RI, operating to the highest standards of professional ethics and our commitment to our stewardship principles delivers better long term investment outcomes for our clients.
Our RI strategy is based upon three strategic pillars of quality, stewardship and engagement. This strategy is underpinned by a strong governance framework and is supported by our specialist RI team. Each year we publish a responsible investment and stewardship report which outlines our progress in these areas and profiles each of our investment team’s approaches to responsible investment. We also include over 100 case studies of responsible investment in practice
View fund performance and documents available in your region. Not all strategies are available in all regions.