May 1, 2013
By Katie Llanos-Small The aftermath of the global financial crisis has been unkind to some. But for the emerging markets, successive years of economic gloom in the developed world have proved anything but a drag.
Ultra-low interest rates in the West have given rise to a surge in capital flows to high-growth emerging regions. And investors betting on emerging market debt have had an impressive run: simply tracking the JPMorgan EMBI Global Index would have returned over 10% on an annualized basis over the three years to the end of March.
The top managers have done much better. The funds in LatinFinance’s 2013 debt investor scorecard have all beaten that benchmark.
GMO’s Emerging Country
Latin debt funds have had a solid run in recent years. But replicating record returns will prove ever more challenging