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

Emerging Markets Debt Commentary (PDF)

Emerging Markets Debt Fact Sheet (PDF)

EM Sovereign Debt / Hard Currency

STYLE

JPM EMBI Global Diversified

BENCHMARK

July 1, 2013

INCEPTION

$296 Million

ASSETS UNDER MANAGEMENT

As of 9/30/2024

Emerging Markets Fixed Income – Hard Currency

EVESTMENT UNIVERSE

Separate Account

Commingled Fund

INVESTMENT VEHICLES

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%

Management Team

Daniel J. Carter, CFA

Managing Director, Senior Portfolio Manager

Career Summary
Ohio Casualty Group
Provident Financial Group

Education
BS - Miami University

Meet Daniel Carter

Bojan Vidosevic, CFA

Assistant Vice President, Portfolio Manager, & Senior Credit Analyst

Career Summary
JP Morgan Chase

Education
BS - Miami University
MBA - University of Chicago

Meet Bojan Vidosevic

Brian D. Cloutier, CFA

Assistant Vice President, Portfolio Manager, Senior Credit Analyst (Latin America)

Career Summary
Akemi Capital
Aragain Capital Management

Education
BS - Carnegie Mellon University
MBA - Massachusetts Institute of Technology

Meet Brian Cloutier

Meet Fixed Income Team

Resources

Emerging Markets Debt Commentary (PDF)

Emerging Markets Debt Fact Sheet (PDF)

Emerging Markets Debt for Insurance Companies - Case Study (PDF)

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