Emerging Markets Investment-Grade Corporate Debt Strategy

A carefully selected portfolio of investment-grade bonds issued by fundamentally strong companies from across the emerging market universe.

Harnessing the potential of successful and well-managed businesses

The strategy aims to achieve long-term total returns through a diversified portfolio of investment-grade emerging market corporate debt investments.
Key features
  • Seeks to take advantage of market mispricing and inefficiency in the EM corporate investment-grade debt universe.
  • Investment process combines objective quantitative input with strong fundamental analysis to provide conviction to invest through periods of market volatility.
  • Rigorous approach to bottom-up bond selection, driven by views of a dedicated team of global sector specialists.
  • Proprietary sustainability analysis and process embeds ESG risk management in portfolio construction.
Emerging markets are home to some really well-run companies with a firm footing on the global stage. These investment-grade bond issuers typically offer higher yield with lower leverage than their developed market peers. We aim to invest in the very best of these for investors.
Victoria Harling

Investment approach

01

We construct the portfolio based on our conviction in individual positions and risk and liquidity considerations, and in alignment with our top-down sector and risk targets.

02

Our investment process looks for bonds issued by fundamentally strong businesses that are mispriced by the market.

03

Our approach is underpinned by a strong team culture that involves the collaboration of high-calibre individuals to challenge investment decisions.

04

Proprietary sustainability analysis and process embeds ESG risk management in portfolio construction.

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General risks. The value of investments, and any income generated from them, can fall as well as rise. Costs and charges will reduce the current and future value of investments. Past performance does not predict future returns. Investment objectives may not necessarily be achieved; losses may be made. Target returns are hypothetical returns and do not represent actual performance. Actual returns may differ significantly. Environmental, social or governance related risk events or factors, if they occur, could cause a negative impact on the value of investments.

Specific risks. Currency exchange: Changes in the relative values of different currencies may adversely affect the value of investments and any related income. Default: There is a risk that the issuers of fixed income investments (e.g. bonds) may not be able to meet interest payments nor repay the money they have borrowed. The worse the credit quality of the issuer, the greater the risk of default and therefore investment loss. Derivatives: The use of derivatives may increase overall risk by magnifying the effect of both gains and losses leading to large changes in value and potentially large financial loss. A counterparty to a derivative transaction may fail to meet its obligations which may also lead to a financial loss. Interest rate: The value of fixed income investments (e.g. bonds) tends to decrease when interest rates rise. Liquidity: There may be insufficient buyers or sellers of particular investments giving rise to delays in trading and being able to make settlements, and/or large fluctuations in value. This may lead to larger financial losses than might be anticipated. Emerging market (inc. China): These markets carry a higher risk of financial loss than more developed markets as they may have less developed legal, political, economic or other systems.

Important information
This communication is provided for general information only should not be construed as advice.

All the information in is believed to be reliable but may be inaccurate or incomplete. The views are those of the contributor at the time of publication and do not necessary reflect those of Ninety One.

Any opinions stated are honestly held but are not guaranteed and should not be relied upon.

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