Northern Trust has unveiled a new Northern Multi-Manager Emerging Markets Debt Opportunity Fund to offer investors exposure to the full range of emerging markets debt.
The fund will invest 80% of net assets in fixed income securities that provide exposure to a blend of local and hard currency emerging or frontier market issuers in addition to investing in emerging market corporate bonds.
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The fund, which follows a multi-manager approach, has a total net operating expense ratio is 0.93% and a minimum investment of US$100,000.
BlueBay Asset Management and Lazard Asset Management will serve as sub-advisers to the fund.
Chris Vella, CIO for multi-manager solutions at Northern Trust said: "The emerging markets debt asset class has evolved over the past few decades, driven by improving fundamentals, structural changes and increased investor interest.
"Our fund intends to capture diverse sources of return from emerging markets debt, including local and external currencies, and sovereign, quasi-sovereign and corporate issuers. This style provides investment managers with the broadest opportunity set to invest in and allows for expanded alpha1 potential in their sector and security allocation decisions," he added.
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By GlobalDataNorthern Trust manages approximately US$37.8 billion assets in multi-manager programs, in addition to assets under advisement of US$43.8 billion for institutional and personal clients as of 30 September 2013.
