[private]
Adrien Bender, Senior Client Portfolio Manager, EM Bonds at Vontobel
– Vontobel Emerging Markets Debt Fund –
Emerging Markets Debt (Hard Currency)
Vontobel Asset Management has built a strong franchise in managing Emerging Markets (EM) Debt, enabling them to cover the full spectrum of the EM debt, from Sovereign Hard Currency, to Local Currencies, as well as EM Corporate Bonds.
The Sovereign Hard Currency portfolio remains their flagship and the performance has been strong and consistent over the long term, which has positionned the fund in 1st Quartile of its peer group in every time horizon.
The relative underperformance in March 2020 has been unusual, explained partly by the need of the Portfolio Manager (PM) to manage liquidity, but also by a portfolio repositioning.
Following his guiding principle, the PM took profit of the market dislocation to reshuffle his portfolio, giving up some of the sort term performance for a long term positioning.
The Yield-to-Maturity of the portfolio is currently 10.5% vs 6.6% for its benchmark for an equivalent credit quality (BB+).
Live webinar will take place from 8:30 to 9:30 am
Presentation will be held in french
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