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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.
Leader in Emerging Market Debt Investing
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.
For investors, the consideration now is usually how, rather than whether, they should allocate to EM equities and bonds, and understanding the impact of differing levels of exposure. In this paper, we look at the factors to consider in order to build robust exposures to emerging markets.
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:
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.
This communication is directed at professional clients (this includes eligible counterparties as defined by the appropriate EU regulator or applicable Swiss regulator) who are deemed both knowledgeable and experienced in matters relating to investments. The products and services to which this communication relates are only available to such persons and persons of any other description (including retail clients) should not rely on this communication.
The information provided does not constitute investment advice as such term is defined under the Markets in Financial Instruments Directive (2014/65/EU) and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell any investment. It does not take into account any investor's or potential investor’s particular investment objectives, strategies, tax status, risk appetite or investment horizon. If you require investment advice you should consult your tax and financial or other professional advisor.
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.
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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