Key features

A global high conviction portfolio primarily of emerging market bonds

Managed by an experienced team dedicated to emerging markets and with access to a network of local offices 

ESG1 factors integrated within the investment process

Investment philosophy 

We believe that emerging markets can no longer be viewed as a single asset class in which all component parts respond unanimously to the same stimuli. Rather, we approach emerging market fixed income as a multi-asset class suite in which rates, foreign exchange, sovereign credit, corporate credit, and frontier markets should all be considered as separate risk asset classes with their own dynamics and drivers.

Against this backdrop, we seek to: determine inflection points in the market; avoid crowded positions and favour trades with positive technical; identify trades that are not well understood or that are mispriced by markets; actively invest across the broad emerging market universe including smaller and less well-researched markets.

Investment process

Our Emerging Market Bond Strategy follows a disciplined and repeatable process:

  • Bond underlay
  • Alpha overlay
  • Macro risk management

Team and resources

Our Emerging Market Fixed Income team is based in London, Hong Kong, Singapore, and Malaysia. Alaa Bushehri, who has over 20 years of industry experience, leads the team.  

The team consists of portfolio managers, research analysts, and investment specialists with expertise across different sectors and countries. They benefit from access to 10+ local investment centres, as well as our global trading and risk management platform, Sustainability Centre, Quantitative Research Group, and Macro Research team.

[1] ESG = Environmental, Social and Governance. ESG assessments are based on BNP Paribas Asset Management’s proprietary methodology which integrates all three aspects of E, S & G.