Fixed income team
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Emerging Markets Blended Debt Strategy

Blending the core components of EMD into a single portfolio

Rose quartz

Featured insight

Deliberating EM debt

Our EM debt team tackles the topics that are top of investors’ minds and provides insights for asset allocators currently deliberating EM debt.

Strategy overview

Investment Approach
Bottom-up high-conviction ideas are used to build the portfolio in line with top-down targets. Proprietary ESG analysis and process embeds ESG risk management in portfolio construction

Investment Opportunity
Core solution for EM debt exposure, seeking to tap into the best opportunities across the investment universe

Investment Universe
Broad EM opportunity set, including hard currency bonds (sovereign and corporate), FX and local rates

Grant Webster
Portfolio Manager
Peter Kent
Co-Chief Investment Officer, Fixed Income

The role the strategy can play in portfolios

Broad exposure to EM debt

Provides access to a wide range of opportunities across the EM debt universe in a single portfolio

Diversified growth solution

Actively invests across the entire investment universe, avoiding exposure to a single theme or country

Access to EM's yield pick-up

Aims to harness EM debt's yield pick-up and exploit the broad array of relative-value opportunities

Cost-effective and efficient solution

Bottom-up approach selects individual best ideas to achieve desired asset allocation, avoiding excessive trading

Investment Philosophy

01

We are active managers and believe the large disparity of returns between countries provides opportunities for outperformance

02

We believe that a blended approach should lower overall volatility and improve risk-adjusted returns

03

We believe three Compelling ForcesTM are key market drivers: economic fundamentals, valuation and market behaviour

04

The investment team and its structure is as important as the process

Performance

Portfolio & Holdings

Date as of 30/04/2026
Strategy
Index
AAA
0.3
AA
A
11.3
BBB
37.3
BB
23.5
B
15.8
CCC
5.9
CC
0.2
C
0.6
D
0.5
Not Rated
-0.4
Cash and near cash
5
*Bond ratings are Ninety One approximations.
Based on a related portfolio within the strategy with substantially similar objectives, policies and strategies as those of the services being offered. The portfolio may change significantly over a short space of time. This is not a buy, sell or hold recommendation for any particular security. For further information on Indices and Specific Portfolio Names, please reference the sections here.

Why Ninety One for Emerging Markets Blended Debt Strategy

01

Our EM heritage gives us a rich and differentiated perspective on this diverse opportunity set

02

Our holistic approach ensures our top-down asset allocation is optimally expressed through our best bottom-up ideas

03

We aim to stay ahead of an evolving universe through our proprietary innovation to deliver strong client outcomes

04

We are thought leaders in EMD and provide clients with insights on key events and their investment impact, proprietary research and ESG information

Strategy literature

Key facts

  • Asset Subclass

    Sovereign & Credit

  • Currency

    USD

  • Inception date

    01/04/2012

  • Team

    Fixed income team

  • Geographical Focus

    Emerging Markets

  • ESG Classification

    Enhanced Integration

  • Comparative Benchmark

    50% JPM GBI-EM Global Diversified Net, 25% JPM EMBI Global Diversified, 25% JPM CEMBI Broad Diversified (pre 011219 50,30,20)

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The content of this website is made available for informational purposes only and should not be construed as an offer, marketing, solicitation or investment advice with respect to any investment products or services. The website has not been reviewed or approved by any regulatory authority and may contain information with respect to investments products that may not be registered in some jurisdictions.

Although we believe any information obtained from external sources to be reliable, we have not independently verified it, and we cannot guarantee its accuracy or completeness (ESG-related data is still at an early stage with considerable variation in estimates and disclosure across companies. Double counting is inherent in all aggregate carbon data).

Any decision to invest in the Strategy described should be made after reviewing the offering document and conducting such investigation as an investor deems necessary and consulting its own legal, accounting and tax advisors in order to make an independent determination of suitability and consequences of such an investment. This material does not purport to be a complete summary of all the risks associated with this Strategy. A description of risks associated with the Strategy can be found in the relevant offering or other disclosure documents where applicable. Copies of such documents are available upon request.

Additional information on our investment strategies not found here (ninetyone.com/-/media/documents/miscellaneous/91-further-information-en.pdf) may be provided on request.

For more information on our Ninety One ESG Classification, please click here