Local Currencies Help EM Bonds

Local Currencies Help EM Bonds

Funds

EM bond funds with local currency mandates continued to outperform their hard currency counterparts in mid-September, EPFR Global says. The fund tracker notes that the spread between UST and the EMBI+ remained around 275bp. It adds that year-to-date, local currency funds have accounted for 53% of overall flows into EM bond funds, compared to 24% for hard currency and 23% for blended funds. In the week ended September 15, EM bond funds attracted about $250m in flows. EM bond funds were meanwhile

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