Our approach

Established expertise in emerging market debt (EMD), managing over US$10.6 billion*, as of 30 June 2019, for our clients. We offer a range of EMD strategies that span the EMD universe from benchmarked, hard currency sovereign, hard currency corporate and local currency sovereign strategies as well as total return strategies.

Our flexible investment approach seeks to identify and capture the diverse opportunity set available in emerging markets. By fostering collaboration between globally integrated teams, we maximise the potential for differentiated idea generation. The consideration of macroeconomic, fundamental, valuation and technical factors helps in seeking consistent performance through market cycles. Our disciplined focus on the balance between risk and opportunity helps us to deliver strong risk-adjusted returns.

*Source: Aviva Investors, as at 30 June 2019.

Pursuing superior risk-adjusted returns

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Benefits

Attractive, sustainable returns from some of the world’s most dynamic economies.

Structural advantages

Taps into higher economic growth rates, lower debt and other factors such as positive demographics and rapidly expanding consumerism.

Diversification

EMD offers access to regions and countries and across sovereign and corporate issuers in both hard and local currencies. Each of these segments has unique idiosyncratic risk and return drivers, helping to provide stable, diversified returns for investors.

Alpha opportunities

The inherent inefficiency of EMD creates opportunities to exploit across countries, issuers, yield curves and currencies.

Key risks

For further information on the risks and risk profiles of our funds, please refer to the relevant KIID and Prospectus.

The value of an investment and any income from it can go down as well as up and can fluctuate in response to changes in currency exchange rates. Investors may not get back the original amount invested.

Emerging markets risk

The funds invest in emerging markets; these markets may be volatile and carry higher risk than developed markets.

Derivatives risk

The funds may use derivatives; these can be complex and highly volatile. Derivatives may not perform as expected, which means the fund may suffer significant losses.

Credit risk

Bond values are affected by changes in interest rates and the bond issuer's creditworthiness. Bonds that offer the potential for a higher income typically have a greater risk of default.

Illiquid securities risk

Certain assets held in the funds could, by nature, be hard to value or to sell at a desired time or at a price considered to be fair (especially in large quantities), and as a result their prices could be very volatile.

Emerging market debt strategies

Strategies referred to may not be available in all jurisdictions.

Aviva Investors
Emerging Markets Hard Currency Bond

Pure asset class exposure
Full coverage of sovereign universe with investment outcomes aligned with investor expectations

High conviction investment style
Investing in the most fundamentally robust opportunities

Aviva Investors
Emerging Markets Local Currency Bond

Separation of duration and FX decisions
Efficient management of currency volatility and opportunities

Proprietary investment process
Blend of qualitative and quantitatively back-tested indicators

Aviva Investors
Emerging Markets Corporate Bond

Pure asset class exposure 
Full coverage of EM corporate universe with investment outcomes aligned with investor expectations

High conviction investment style
Investing in the most fundamentally robust opportunities

Allocating to emerging market debt: An investment solution for Australian institutional investors

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Emerging market debt team

Liam Spillane

Head of Emerging Market Debt and Portfolio Manager, EM Local Currency

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Aaron Grehan

Deputy Head of Emerging Market Debt and Portfolio Manager, EM Hard Currency

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Stuart Ritson

Portfolio Manager, Emerging Market Local Currency Debt

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Michael McGill

Portfolio Manager, EM Hard Currency

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Anton Kerkenezov

Portfolio Manager, EM Corporate

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Dariusz Kedziora

Portfolio Manager, EM Opportunities

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Carmen Altenkirch

EM Sovereign Analyst

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Need more information?

For further information, please contact our investment sales team.

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