Stone Harbor Unveils Unconstrained Emerging Markets Debt Strategy

Oct 31 2017 | 9:31pm ET

Fixed income specialist Stone Harbor Investment Partners has debuted a new emerging markets debt strategy driven by fundamental analysis and complemented by top-down macro views.

The new strategy, named the Emerging Markets Explorer Strategy, is a concentrated, high conviction, unconstrained approach to emerging markets debt, the company said in a statement. It is managed in a concentrated, total return style and primarily invests in fixed income securities selected from the emerging markets debt asset classes of hard currency sovereign debt, corporate credit, local duration and EM FX.

EM debt and currency markets currently offer a wide range of valuations and projected returns, and the strategy seeks to take advantage of this breadth at the country/security levels, Stone Harbor said in the statement. 

“The EM Explorer Strategy aims to provide opportunities for investing in improving credit stories, monetary policy cycles, attractive FX valuation themes and technically-related undervalued credit,” added portfolio manager Kumaran Damodaran.

Founded in 2006 by former Citigroup Asset Management executive Peter Wilby, Stone Harbor is independent fixed income investment manager focused on credit and multi-sector credit strategies across emerging markets, high yield, and investment grade.

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