Emerging Market Bonds: the widening opportunities in 2015
Claudia Calich, Fund Manager, Emerging Markets Bond Fund, M&G
Jan 21 2015 3:30 pm, Asia – Calcutta
Register/Attend at https://www.brighttalk.com/webcast/6941/139417
Duration 45 mins
2014 was an eventful year for emerging markets. After a relatively strong period which lasted all the way to September, markets corrected in the latter part of the year as the negative headlines from the Russian crisis and the falling oil price triggered bouts of volatility and risk averseness. Looking ahead, we expect asset allocation between hard and local currency to remain a key driver, particularly in the earlier part of 2015. In hard currency, credit selection will remain even more important as we expect return dispersion to increase. After having a relatively low allocation to local currency debt in 2014, we are looking to selectively add exposure in 2015 to countries where the current account adjustment is advancing or where valuations undershoot fundamentals.