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    Strategies & Capabilities

    Emerging Market Debt

    Emerging Market Debt (EMD) is a rapidly evolving asset class that can offer fixed income investors diversification benefits and enhanced yield and return potential.

    The EMD universe offers investors a broad spectrum of opportunities from local to hard currency debt, from investment grade to high yield, and from sovereign to corporate debt. Investors can pick and choose their exposure depending on the risk and return profile they are looking for.

    • EMD has seen solid growth over the past decade, as of end June 2020 the investible EMD universe in hard currency sovereign, corporate debt, local currency nominal and inflation linked sovereign debt stood at $5.5 trillion based on the flagship JPM and Barclays indices.1
    • As emerging market countries grow and develop their financial markets, new countries are added to the flagship EMD indices.
    • With EM countries increasing importance to global trade and GDP, EMD cannot be ignored and at State Street Global Advisors we believe it should be an integral part of investor portfolios.

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    Commentary Library
    Leader in Emerging Market Debt Investing

    2005

    2011

    2012

    2014

    2016

    2019
    First Index EM Local Debt Strategy (Including China Onshore Bond Market) First Indexed Global EM Local Debt Strategy (ETF)

    SPDR® BofAML Emerging Markets Corporate Bond Strategy

    		 Custom Indexed Middle East (UAE) USD Sovereign & Credit Strategy

    Multi-Factor EM Local Debt Strategy

    Indexed Local EMD SICAVs including ESG versions
     
    • State Street Global Advisors is leader in EMD investing and a pioneer in indexed EMD launching our first indexed strategy in 2005.
    • Today we manage over $24bn2 in dedicated EMD portfolios and are among the largest EMD investors in the world.
    • We manage assets across local currency nominal and inflation linked debt and hard currency corporate and sovereign debt.
    • Global expertise, local knowledge – two EMD investment centres located in London and Singapore
    • Our approach to indexing has delivered close tracking while reducing implementation costs and has been recognised by institutional and retail investors alike.
    • Our dedicated EMD team means that we have the expertise to deliver this complex beta exposure in an efficient and cost effective way.
    • We have a solutions oriented approach and work in partnership with institutional investors to meet their investment objectives.
    Our Capabilities

    Our Emerging Market Debt  strategies aim to deliver the performance of all the major EMD benchmark indices through the use of sophisticated investment techniques.

    Through our long-standing track record, across the full EMD spectrum, we have accumulated deep market insights and expertise of how these markets operate and perform.

    We manage a variety of funds and ETFs as well as separately managed accounts that track the performance of the established institutional EMD benchmarks, as well as customised versions of these.  We have considerable experience partnering with our clients to design the specific EMD exposure and strategy they want, one that is consistent with their own investment objectives and beliefs.

    We have established track records against four key EMD exposures:

    Our Team
    s_kumar_abhishek.jpg

    Abhishek Kumar

    Head of Emerging Market Debt

    s_ng_kheng-siang.jpg

    Kheng-Siang Ng

    Asia Pacific Head of Fixed Income

    s_furey_david_patrick.jpg

    David Furey

    Head of Fixed Income Strategists – EMEA

    Portfolio Managers

    Jonathan Camissar

    Zhen Li

    Robert Golcher

    Catherine Smith

    Traders

    James Cavanagh

    Richard Tute

    Portfolio Strategist

    Lyubka Dushanova

    Disclaimer

    Important Risk Information

    Marketing Communication

    State Street Global Advisors World Wide Entities

    Investing involves risk including the risk of loss of principal.

    The whole or any part of this work may not be reproduced, copied or transmitted or any of its contents disclosed to third parties without State Street Global Advisors express written consent.

    The views expressed in this material are the views of the EMEA Fixed Income Specialists of State Street Global Advisors Global Fixed Income Group and are subject to change. This document contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance and actual results or developments may differ materially from those projected.

    The information contained in this communication is not a research recommendation or ‘investment research’ and is classified as a ‘Marketing Communication’ in accordance with the Markets in Financial Instruments Directive (2014/65/EU) or applicable Swiss regulation. This means that this marketing communication (a) has not been prepared in accordance with legal requirements designed to promote the independence of investment research (b) is not subject to any prohibition on dealing ahead of the dissemination of investment research.

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    All information is from State Street Global Advisors unless otherwise noted and has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information and it should not be relied on as such.

    © 2020 State Street Corporation ‐ All Rights Reserved
    3166854.1.1.EMEA.INST
    07/31/2021

    Footnotes

    1 Source: Barclays, JP Morgan, State Street as of 30th June 2020

    2Source: State Street Global Advisors as of 31st March 2020

    Questions? Feel free to

    This information is for informational  purposes only, not to be construed as investment advice or a recommendation or offer to buy or sell any security. Investors should always obtain and read an up-to-date investment services description or prospectus before deciding whether to appoint an investment manager or to invest in a fund. Any views expressed herein are those of the author(s), are based on available information, and are subject to change without notice. Individual portfolio management teams may hold different views and may make different investment decisions for different clients. There are no guarantees regarding the achievement of investment objectives, target returns, portfolio construction, allocations or measurements such as alpha, tracking error, stock weightings and other information ratios. The views and strategies described may not be suitable for all investors. SSGA does not provide tax or legal advice. Prospective investors should consult with a tax or legal advisor before making any investment decision. Investing entails risks and there can be no assurance that SSGA will achieve profits or avoid incurring losses.
     

    Performance quoted represents past performance, which is no guarantee of future results. Investment return and principal value will fluctuate, so you may have a gain or loss when shares are sold. Current performance may be higher or lower than that quoted.

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    SSGA Luxembourg SICAV UCITS
     

    State Street Global Advisors Luxembourg SICAV is an open-ended investment company with variable capital having segregated liability between its sub-funds. The Company is organised as an Undertaking for Collective Investments in Transferable Securities (UCITS) under the laws of Luxemburg and authorised as a UCITS by the Commission de Surveillance du Secteur Financier (“CSSF”).

    This website is directed at Qualified Investors only, as defined by Article 10(3) and (3ter) of the Swiss Collective Investment Schemes Act (“CISA”) and its implementing ordinance. Certain funds may not be registered for public distribution with the Swiss Financial Market Supervisory Authority (FINMA), which acts as supervisory authority in investment fund matters, or may not have appointed a Swiss Representative and Paying Agent. For those funds which have appointed a Swiss Representative and Paying Agent, the prospectus, the articles of incorporation, the Key Investor Information Document (KIID) as well as the latest annual and semi-annual reports may be obtained free of charge from the Swiss Representative and Paying Agent, State Street Bank International GmbH, Munich, Zurich Branch, Beethovenstrasse 19, 8027 Zurich, or at www.ssga.com, as well as from the main distributor in Switzerland, State Street Global Advisors AG (“SSGA AG”), Beethovenstrasse 19, 8027 Zurich. For those funds which have not appointed a Swiss Representative and Paying Agent, please observe that the funds are open to Qualified Investors at the exclusion of Qualified Investors with an opting-out pursuant to Art. 5(1) of the Swiss Federal Law on Financial Services ("FinSA") and without any portfolio management or advisory relationship with a financial intermediary pursuant to Article 10(3ter) CISA (“Excluded Qualified Investors”). For further information and fund documents please contact SSGA AG.
     

    You should obtain and read the sales prospectus and relevant Key Investor Information Document (KIID) prior to investing, which may be obtained by clicking here. These include further details relating to the SSGA Luxembourg SICAV funds, including information relating to costs, risks and where the funds are authorised for sale.

     

    SSGA LPLC UCITS

     

    State Street Global Advisors Liquidity Public Limited Company ("the Company") is an umbrella type investment company with variable capital having segregated liability between its sub-funds. The Company is organised as an Undertaking for Collective Investment in Transferable Securities (UCITS) under the laws of Ireland and authorised as a UCITS by the Central Bank of Ireland.

    This website is directed at Qualified Investors only, as defined by Article 10(3) and (3ter) of the Swiss Collective Investment Schemes Act (“CISA”) and its implementing ordinance. Certain funds may not be registered for public distribution with the Swiss Financial Market Supervisory Authority (FINMA), which acts as supervisory authority in investment fund matters, or may not have appointed a Swiss Representative and Paying Agent. For those funds which have appointed a Swiss Representative and Paying Agent, the prospectus, the articles of incorporation, the Key Investor Information Document (KIID) as well as the latest annual and semi-annual reports may be obtained free of charge from the Swiss Representative and Paying Agent, State Street Bank International GmbH, Munich, Zurich Branch, Beethovenstrasse 19, 8027 Zurich, or at www.ssga.com, as well as from the main distributor in Switzerland, State Street Global Advisors AG (“SSGA AG”), Beethovenstrasse 19, 8027 Zurich. For those funds which have not appointed a Swiss Representative and Paying Agent, please observe that the funds are open to Qualified Investors at the exclusion of Qualified Investors with an opting-out pursuant to Art. 5(1) of the Swiss Federal Law on Financial Services ("FinSA") and without any portfolio management or advisory relationship with a financial intermediary pursuant to Article 10(3ter) CISA (“Excluded Qualified Investors”). For further information and fund documents please contact SSGA AG.
     

    You should obtain and read the sales prospectus and relevant Key Investor Information Document (KIID) prior to investing, which may be obtained by clicking here. These include further details relating to the State Street Global Advisors Liquidity Public Limited Company funds, including information relating to costs, risks and where the funds are authorised for sale.


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