Emerging Markets Fixed Income

Rigour finds the hidden gems

EM bonds managed firmwide

USD 34 B

Countries rated by our fixed income analysts

80

Number of dedicated EM debt investors

33

Overview

Our emerging markets fixed income approaches are built on a combination of expertise and collaboration. A long history of investing in emerging markets and a culture of sharing ideas across our deep investment platform give us an edge when evaluating emerging sovereign and corporate debt opportunities.

Broad and deep research
Global lens
Collaboration
Broad and deep research

Our experienced team of dedicated emerging markets fixed income investors and credit analysts generates ratings on over 80 emerging countries and covers nearly 400 emerging corporate issuers.

Global lens

We believe that taking a global perspective is critical when investing in emerging markets. Strong connections between emerging and developed markets mean that outside events can often be big drivers of emerging markets’ performance.

Collaboration

Collaboration between colleagues specialising in equities, fixed income, commodities, currencies, macroeconomics and ESG provides global context and helps our investors build a well-rounded picture of the emerging markets fixed income landscape. To form a holistic view of emerging markets issuers, our credit and equity analysts often have joint meetings with company management teams and key policymakers.

Our Heritage

  • 1999

    We launch our first dedicated emerging markets debt approach, which forms the foundation of our emerging markets fixed income platform

  • 2006

    We develop an opportunistic approach to give clients added flexibility and help them take advantage of opportunities across emerging markets sectors

  • 2007

    Continuing to grow with the market, we expand into emerging local debt, offering our clients exposure to both interest rates and currencies

  • 2009

    We establish an emerging markets blended approach to suit clients wishing to delegate sector allocation to a dedicated specialist

  • 2011

    We launch a dedicated emerging markets corporate debt approach, offering our clients greater diversity within their emerging markets allocations

  • 2015

    For investors looking to take a more strategic approach to emerging local debt with a focus on risk-adjusted returns, we create our first emerging markets advanced beta strategy

  • Today

    We offer a full range of strategies across the emerging markets landscape to meet investors' needs, including hard currency, local currency and corporate emerging debt

Our fixed income funds seek out the hidden gems



Emerging Local Debt Fund

Combining a quantitative framework with fundamental analysis to uncover opportunities in local interest-rate and currency markets

LEARN MORE

Blended Opportunistic Emerging Market Debt Fund

Blending best ideas across the Emerging Markets Debt spectrum to pursue compelling opportunities

LEARN MORE


View our suite of emerging markets funds

VIEW FUNDS

Investors should consider the risks that may impact their capital. The value of your investment may become more or less than the amount you initially invested.

EMERGING MARKETS INSIGHTS

An unpleasant cocktail for Russia’s equity market
In light of recent developments, Equity Portfolio Manager Jamie Rice and Geopolitical Strategist Thomas Mucha believe caution is warranted with regard to Russia, from both a geopolitical and an investment standpoint.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
publish
May 2021
An unpleasant cocktail for Russia’s equity market
,
publish
An allocator’s agenda for a reflating world
Multi-Asset Strategist Nick Samouilhan and Investment Directors Andrew Sharp-Paul and Matthew Bullock focus on some suggested ”to-do” items for asset allocators in response to the potentially reflationary impact of the COVID-19 vaccines and fiscal policy stimulus.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
publish
April 2021
An allocator’s agenda for a reflating world
,
publish
EM equity looks more attractive than it’s been in a decade
Equity Portfolio Manager Jamie Rice describes his bullish stance on emerging markets (EM) equities and looks at China’s burgeoning A-share market.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
publish
April 2021
EM equity looks more attractive than it’s been in a decade
,
publish
Post-Trump China policy takes shape
More than two months into the Biden administration, important contours of the post-Trump approach to US-China relations have begun to crystallize. Geopolitical Strategist Thomas Mucha offers his latest perspective, including some potential macro and market implications.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
publish
April 2021
Post-Trump China policy takes shape
,
publish
EM small caps: hidden gems in plain sight?
Our team makes the case for strategically investing in EM small caps and for employing an actively managed approach to this underutilised asset class.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
publish
March 2021
EM small caps: hidden gems in plain sight?
,
publish
APAC Investment Forum 2021
Wellington specialists offer their views on the key themes transforming the investment opportunity set today.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
publish
March 2021
APAC Investment Forum 2021
,
publish
EM debt: the winding path to post-COVID recovery
Fixed Income Portfolio Managers Kevin Murphy and Michael Henry are broadly constructive on EM debt for the remainder of 2021. However, country, sector, and issuer selection will be critical to navigating a still-risky landscape that remains dependent on continued liquidity support from the developed world.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
publish
March 2021
EM debt: the winding path to post-COVID recovery
,
publish
Is it China’s world and we’re just living in it?
The short answer is no, but it’s not completely hyperbolic to suggest we could be heading in that direction longer term. Macro Strategist Santiago Millán explains and highlights implications for investing in Chinese assets.
Archived insights remain available on the site. Please consider the publish date while reading these older insights.
publish
February 2021
Is it China’s world and we’re just living in it?
,
publish

Past performance is no guarantee of future performance and can be misleading. Funds returns are shown net of fees.
Source: Wellington Management

© 2020 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. The Overall Morningstar Rating for a fund is derived from a weighted average of the three, five, and ten year (if applicable) ratings, based on risk-adjusted return. Past performance is no guarantee of future results.

Investment in the funds described on this website carries a substantial degree of risk and places an investor’s capital at risk. The price and value of investments is not guaranteed and can go down as well as up. An investor may not get back the original amount invested and an investor may lose all of their investment. Investment in the funds described on this website is not suitable for all investors. If an investor is in any doubt as to the suitability of an investment in a fund, an investor should consult an independent financial advisor. The information on this website does not constitute, and should not be construed as, investment advice or a recommendation to buy, sell or otherwise transact in any security including, but not limited to, shares in the funds. An investor should only invest in a fund once that investor has carefully read and understood the offering documents for the relevant fund, which are the relevant prospectus, and Key Investor Information which contain further information on the risks and features of the fund, and the latest financial reports and any other offering documents for the fund which are available on this Website. Unless stated otherwise data is as at previous month end.

View full disclosures