Investment Strategies

Investment strategies are offered on a segregated account basis and via commingled funds.

EM Sovereign Debt

Invests primarily in dollar-denominated sovereign and quasi-sovereign bonds with exposure to a wide range of countries across Asia, Latin America, Eastern Europe, the Middle East and Africa
Seeks to provide attractive risk-adjusted returns by utilizing a conviction-based and benchmark agnostic investment approach

Inception Date: 2008 | Primary Benchmark: JP Morgan EMBI Diversified Index

Invests in a selection of local currency denominated sovereign bonds and currency instruments with exposure to emerging markets countries across Asia, Latin America, Eastern Europe, the Middle East and Africa.
Unhedged currency exposure where FX is treated as an integrated part of the country risk and therefore each investment is informed by an active FX view
Seeks to provide attractive risk-adjusted returns by utilizing a conviction-based and benchmark agnostic investment approach

Inception Date: 2008 | Primary Benchmark: JP Morgan GBI-EM Diversified Index

Invests primarily in a combination of dollar-denominated and local currency denominated government debt as well as currency instruments issued by frontier countries across Asia, Latin America, Eastern Europe, the Middle East and Africa.
Designed to capture attractive benefits from early-stage investments in countries: where there is positive momentum toward improving fundamentals, where political environment is stable or a catalyst for positive change is present, and where the financial infrastructure supports external investment.
Seeks to provide attractive carry and risk-adjusted returns by utilizing a conviction-based approach

Inception Date: 2010 | Primary Benchmark: N/A

Invests primarily in local currency denominated government debt and currency instruments issued by frontier countries across Asia, Latin America, Eastern Europe, the Middle East and Africa.
Designed to capture attractive benefits from early-stage investments in countries: where there is positive momentum toward improving fundamentals, where political environment is stable or a catalyst for positive change is present, and where the financial infrastructure supports external investment.
Idiosyncratic performance driven by macro-economic, political and ESG development in less developed EM countries with low correlation with global headline risk providing strong protection during EMD drawdowns
Seeks to provide attractive carry and risk-adjusted returns by utilizing a conviction-based approach

Inception Date: 2021 | Primary Benchmark: N/A

Invests primarily in a combination of dollar-denominated and local currency denominated government debt as well as currency instruments, with exposure to a wide range of emerging markets countries across Asia, Latin America, Eastern Europe, the Middle East and Africa.
Dynamically managed hard and local currency allocation ranging from 30% to 70% to take advantage of changing market conditions
Utilizes a multi-factor top down macro process and bottom up proprietary models to assess attractiveness of hard vs local currency debt

Inception Date: 2010 | Primary Benchmark: 50% JP Morgan EMBI Global Diversified index / 50% JP Morgan GBI-EM Global Diversified index

The objective is to create a unique return stream by utilizing a benchmark agnostic, conviction-based investment process that utilizes emerging market sovereign and corporate debt. The strategy invests in both hard and local currency denominated debt that is dynamically managed.
To achieve the investment objective Global Evolution’s investment process focuses on investing in dynamically improving countries and companies where there is positive momentum toward improving macroeconomic fundamentals, the political environment, where the financial infrastructure supports foreign investment, and where sufficient risk premium exists that represents good value.
The investment approach is active, team-oriented, disciplined, and conviction-based. It utilizes fundamental top-down analysis with active risk management to identify attractive investment opportunities in sovereigns and companies across 75 countries in emerging and frontier markets.
Strategies are well diversified and designed to provide attractive risk-adjusted returns.

Inception Date: 2019 | Primary Benchmark: 40% J.P. Morgan CEMBI BD HY + 40% J.P. Morgan EMBI GD HY + 20% J.P. Morgan GBI-EM GD

Best of ideas portfolio that drawn on the expertise across all Global Evolution’s investment teams and captures opportunities across Asia, Latin America, Eastern Europe, Middle East, and Africa
Allocates equal-weighted static exposure (25%) to dollar-denominated government bonds, local currency denominated government bonds, dollar-denominated corporate bonds and a selection of local currency denominated frontier government bonds
Absolute investment style providing an all-in exposure to EMD well suited for clients seeking to avoid sub-allocations to EMD
Features a 50%/50% allocation to hard and local currency, and 50%/50% allocation to high and low beta names resulting in improved yield and lower correlation

Inception Date: 2021 | Primary Benchmark: N/A

The strategy invests primarily in dollar-denominated corporate debt and enables investors to get exposure to 50+ countries, 12 sectors and 700+ issuers.
As part of the investment process, Global Evolution’s ESG approach for corporates is based on a negative screening approach and a positive screening, integration and engagement approach where E, S, and G indicators are directly integrated into the investment process.
The strategy is well-diversified and aims to provide attractive risk-adjusted relative returns by utilizing a conviction-based and benchmark-agnostic investment approach

Inception Date: 2020 | Primary Benchmark: JP Morgan CEMBI Broad Diversified index

The strategy invests primarily in local currency corporate debt instruments and enables investors to get exposure to 18+ countries and 16+ currencies.
As part of the investment process, we apply an integrated sovereign ESG approach, and favor countries with dynamically improving underlying fundamentals and attractive valuations.
The strategy is well-diversified and aims to provide attractive risk-adjusted relative returns by utilizing a conviction-based and benchmark-agnostic investment approach.

Inception Date: 2020 | Primary Benchmark: ICE BofaML Index

Invests only in USD-denominated securities and may invest up to 30% in US-related securities.
The goal is to provide attractive risk-adjusted returns by investing in very high-quality Asian sovereign and corporate bond issuers.
Actively managed with a combination of fundamental top-down and bottom-up issuer analysis, with focus on risk management and diversification

Inception Date: 2021 | Primary Benchmark: Bloomberg Barclays Asia Credit BBB+ and above Index