Focus Capital Partners’ asset management division has launched its new local emerging markets debt fund, called Focus Capital Partners Local Emerging Markets Debt Fund.
The new fund aims for a high level of total return consisting of income and capital appreciation by investing in sovereign and corporate debt denominated in the currency of the issuer.
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The fund will provide a vehicle to tap into Focus Capital Partners’ belief that such debt represents the next stage in the lifecycle of emerging markets debt.
The new fund will be managed by the same team that heads the Focus Capital Partners Emerging Markets Debt Fund.
Focus Capital Partners said that this new asset class will offer investors several benefits including: increased diversification with a low correlation to other assets classes; compelling risk/return characteristics compared to external emerging markets as well as other asset classes.
Brian Giang, portfolio manager at Focus Capital Partners said: "There has been a remarkable transformation of local debt markets in emerging market economies over the last few years. Local markets have deepened and become more liquid.
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By GlobalData"As a result of the sound economic policies developing in these emerging market countries, the investor base has diversified beyond the conventional domestic banking sector to include foreign and local institutions, including pension plans, hedge funds and insurance companies," Giang added.
