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Emerging Markets Debt:

Yerlan Syzdykov

"The asset class may benefit from credit convergence in the long-term whilst having the potential to achieve higher yields in the short-term.

 

We aim to take full advantage by combining it with our bond selection capability."

 

 

Yerlan Syzdykov

Head of Emerging Markets - Bond & High Yield

Real Growth, Real Yield, Real Opportunity?

August 2016

 

Following the surprise Brexit referendum result, policymakers have moved to calm markets by talking down future rate rises in the U.S. This move follows speculation that the Referendum result will bring forward a British recession to 1Q’17, with growth headwind in Europe. The market now debates a Fed move in December. 

 

With rates likely to be lower for longer, the Emerging Markets yield premium may attract interest

We expect the Brexit referendum to have a limited impact on Emerging Markets. In our view, a key risk is a stronger U.S. dollar. This may further reflect in lower commodity returns. In our opinion, this risk remains small and the asset class remains among the least exposed to Brexit. 

 

While other sources dry up, Emerging Markets yields appear well supported

With German Bund yields negative and other mature market sovereign bonds offering little real yield, the market’s risk appetite has adjusted toward the income opportunity in Emerging Markets.

 

In our view, Emerging Markets are drawing attention for three reasons:

 

  1. A softer U.S. dollar tends to help Emerging Markets
  2. Emerging Market yields are strong...
  3. …and they are well supported, in our view 

 

 

 

Featured Video

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Market Outlook Q2 2016

Emerging Markets: The Worst May be Over

 

What's in store for Emerging Markets? Mauro Ratto, Head of Emerging Markets, talks about Emerging Market Debt, China's growth perspectives and his thoughts on the outlook for this year.

What are Key Issues for EM Investing Today?

How demographics, reform and capital are unlocking the next wave of Emerging Markets opportunity

Award Winning Expertise

 

 

For the second year running, Institutional Investor recognized our Emerging Market Debt capabilities. Our sub-fund, Pioneer Funds - Emerging Markets Bond, was honoured with the European Money Management Award in the category ‘Emerging Markets Hard Currency Debt’.