Emerging market bonds, is an attractive asset classes on Pictet Asset Management's valuation scorecard.
Our proprietary indicators suggest economic activity has picked up considerably over the past three months
across emerging markets, and we expect manufacturing-based countries within Asia to lead the recovery
over the coming months.
Yields on local currency debt are close to 7 per cent in aggregate – the highest level since 2010.
What is more, emerging currencies are trading at levels that are three standard deviations below what we
consider to be fair value.
In addition we expect the US dollar's appreciation to fade in the coming months, easing the strain on
emerging market fixed income and currencies.
There are, of course, some risks for emerging bond markets, notably the possibility of a hard landing in
China and the unclear progression of the monetary tightening in the US.
What does this all mean for investors? Are emerging debt the investment opportunity of the year or will
2016 remain another challenging year for the asset class?
Andrew Grijns, Senior Client Portfolio Manager, of Pictet's Emerging Debt team based in London and Singapore
will be pleased to address these questions. Andrew will also discuss with you our current positioning and strategies
in our emerging debt portfolios.
We would be delighted to welcome you at this presentation and kindly ask you to send us your confirmation
by e-mail to Manon Jegge ([email protected]).
11:45 Welcome Drink and Coffee
12:00 Presentation Pictet-Emerging Market Bonds
Andrew Grijns, Senior Client Portfolio Manager - Emerging Debt
13:00 Buffet lunch
E-mail to: [email protected] - until 1st April 2016