Emerging Markets Debt: A New Thinking
May 15, 2014
Emerging Economies are dealing with challenging transitions. The era of indiscriminate flows into Emerging Markets Bonds (EMB) is probably over. However, we believe that the asset class will continue to offer selective opportunities for value-based investors. Identifying the potential winners of the new EM framework, selecting sovereign and corporate issuers that are able to leave behind the legacies of the past and move to a balanced growth path, may add sizable value to those investing in EMB. At Pioneer Investments, we adopt an active management approach, along with a strong focus on credit and macro research and risk management.