United States
United Kingdom
Singapore
Canada
Emerging Markets Debt
Team Introduction
Key Stats
Strategy Profile
1Q 2019Inception Date
January 1, 2012
Strategy AUM ($M)
$ 121.4
Avg. Quality1
BBB+
Current Yield (%)
6.99
Strategy Overview
The Emerging Markets Debt strategy seeks global bond investments offering the best combination, in our view, of high real yield and attractive fundamentals given our macroeconomic outlook. This value-based strategy maintains a primary focus on emerging markets sovereign debt with a goal of unlocking the potential benefits of mean-reversion tendencies in interest rates and currency valuations. To avoid the inefficiencies of broad emerging markets bond benchmarks, the team takes a benchmark-agnostic approach that limits investment to only the 10-15 countries and currencies considered most attractive. For over two decades, the Global Fixed Income team has achieved its risk-adjusted returns by implementing a process of country rotation through the broad global fixed income universe. The strategy may also invest, to a limited degree, in emerging markets corporate debt when value is overstated relative to history.
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Conflicts of Interest
Minor Non-Monetary Benefits Policy
Proxy Voting Policy
Source: Bloomberg.
In rendering portfolio management services, Brandywine Global Investment Management, LLC may use the portfolio management services, research and other resources of its affiliates.
Characteristics, region and currency weightings are subject to change and should not be considered as investment recommendations. It should not be assumed that investment in the regions or currencies listed and account quality ratings or duration ranges were or will prove profitable, or that investment decisions we make in the future will be profitable. Region and currency weights, account quality ratings or duration ranges with regard to any particular client account may vary based on any investment restrictions applicable to the account.
International securities and ADRs may be subject to market/currency fluctuations, investment risks, and other risks involving foreign economic, political, monetary, taxation, auditing and/or legal factors. There may be additional risks associated with international investments. These risks are magnified in emerging markets. International investing may not be suitable for everyone.
Fixed income instruments are subject to credit risk and investment rate risk.
Ratings by S&P or another Nationally Recognized Statistical Rating Organization.
Brandywine Global believes that transactions in any option, future, commodity, or other derivative product are not suitable for all persons, and that accordingly, clients should be aware of the risks involved in trading such instruments. There may be significant risks which should be considered prior to investing. Derivatives transactions may increase liquidity risk and introduce other significant risk factors of a complex character. All securities trading, whether in stocks, options or other investment vehicles, is speculative in nature and involves substantial risk of loss.
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Returns are presented gross and net of management fees and include the reinvestment of all income. Gross returns presented do not reflect the deduction of investment advisory fees. A client's returns will be reduced by the advisory fee and other expenses incurred in the management of the account. Net of fee performance was calculated using the highest management fee as described in Part 2A of the firm's ADV, which is available upon request.
Please refer to our GIPS presentation, which includes performance footnotes, fee schedules, index descriptions and disclosures.
Past performance is no guarantee of future results.
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