Emerging Markets

The Emerging Market (EM) hard currency corporate debt universe provides investors the opportunity to access the fast-growing and economically diverse story of EM countries. The asset class aims to provide higher yields and a pick-up in spread when compared to similar-rated bonds in developed markets.

Our focus on hard currency corporate bonds enables us to avoid the additional volatility associated with local currency investments. We offer short or regular duration strategies, designed to suit different risk appetites. We also have a dedicated Asian credit strategy, an asset class we believe is under-researched by Western investors which could seek to provide an interesting proposition for investors looking for further diversification.

Our Advantage

Deep Credit Focus – in-depth fundamental credit analysis complemented by sovereign macro expertise
Strong Team – knowledgeable portfolio management team with language skills and regional specialities in the markets in which they invest
Long-Term Track Record – close to a decade of experience in Emerging Market credit

Capital at risk. The value of investments and the income from them may fall as well as rise and is not guaranteed. Investors may not get back the full amount invested. Past performance is not an indication of current or future performance.

Emerging Market Risk: Emerging markets are generally more sensitive to economic, social and political conditions than developed markets. Additionally, there may be insufficient buyers or sellers to allow the Fund to sell or buy investments readily.

“Emerging Market hard currency corporate debt is a multi-asset global opportunity set, providing investors the opportunity to rotate into different regions, sectors and sub-asset classes depending on their global economic outlook and expected rates trajectory”

Warren Hyland, Portfolio Manager

Our Strategies

Emerging Markets – Short Duration

Emerging Markets – Market Duration

Emerging Markets – Asia Credit Opportunities

Insights

Oct 16, 2026

EM monthly - Latin America makes the “Right Turn”

A political shift to the right is reshaping Latin America, raising expectations of more market-friendly policies, greater fiscal discipline and closer ties with Washington. With Brazil potentially the latest country to follow suit, could this realignment create a virtuous cycle of investment, growth and improving credit fundamentals across the region?

Sep 07, 2026

Asia Credit: An underappreciated opportunity

Asia credit combines the growth potential of emerging markets with the quality characteristics of developed markets. Supported by resilient fundamentals, favourable technicals and powerful structural trends, the asset class offers a compelling opportunity for investors seeking diversification, income and long-term capital preservation explains Mel Siew.

Jul 30, 2026

Emerging Markets: The Half-Time Team Talk

What does a football half-time team talk have in common with emerging market credit? In our latest Muzinich Podcast, Warren Hyland, Head of Emerging Markets, uses the football-inspired framework from his latest Emerging Markets Monthly, Half Time, to reflect on the first six months of the year and discuss the outlook for the remainder of 2026.