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Emerging market debt (EMD) is a versatile asset. It offers equity investors risk mitigation potential with minimal return dilution. For fixed income investors willing to move out the risk spectrum, it presents a substantial yield pick-up opportunity with compelling fundamentals and credit attributes. Investors need to be comfortable with headline and idiosyncratic risk, but in a low (and increasingly negative) yield environment EMD offers significant potential for those investors willing to take a closer look.
Yield Enhancement Emerging market debt provides an attractive yield enhancement relative to developed market bonds.
Diversification Benefits The low correlation and higher growth factor exposures of EMD assets provide diversification benefits for global bond and equity investors.
Supportive Fundamentals Emerging economies, on average, offer stronger growth and lower debt burdens than their advanced counterparts.
Higher Volatility/Drawdown and Idiosyncratic Risks Investors need to be aware of the potential higher volatility and drawdowns as well as the idiosyncratic risks of
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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