Cookies

We use cookies in order to provide you with an optimal website experience. These include cookies that are technically or legally necessary for operating our site and controlling our commercial business objectives as well as cookies that are used for anonymous statistical purposes, monitoring comfort settings or displaying personalized content. The decision as to which types of cookies to allow is up to you. Please note that, based on your settings, some features of our website might not be accessible for you. For more information, see Details and Settings.

 

These cookies are absolutely vital for operating our site. They are required for security reasons or are necessary from a legal point of view.
*They cannot be deactivated.

In order to improve our website for you further, we collect anonymous data for statistical and analytical purposes.

These cookies are intended to facilitate use of our website for you. Your settings can be saved for 30 days.

Fixed-income strategies at Metzler/Payden

Emerging market bonds: the great potential of a changing world

Increasing significance of emerging market bonds

1In 1990, the economies of the emerging markets (EM) accounted for 36 % of the global gross domestic product (GDP), and by 2015 this figure had risen to 58 %. Experts from the International Monetary Fund (IMF) estimate the EM share of global GDP will surpass 60 % by 2021. This dramatic increase in the EM share of global GDP has been the product of strong economic growth in developing countries in Asia, Central and Eastern Europe, Latin America, Africa, and the Middle East. As their economies have grown, the opportunities to invest have increased as well, making it easier than ever for investors to access these emerging markets.

Although the market environment for EM bonds deteriorated in 2018, many emerging markets are now better positioned than most developed countries: real economic growth is higher, and debt is lower relative to economic performance. Moreover, EM bonds are very attractively valued again in view of persistently low interest rates in Europe.

EM-Anleihen Metzler/Payden

Opportunities to accelerate growth speak in favor of emerging market government bonds

In recent years, the emerging markets have been burdened by currency turbulences, weak equity markets and waning growth momentum. The Fed’s announcement at the end of January that it was not planning any further interest rate hikes is likely to boost economic growth in the emerging markets – and enhance the attractiveness of their bonds. However, the fundamental situation varies widely in the different emerging economies.

Read more on this topic in Edgar Walk's special edition of market:update.

Advantages of Payden & Rygel emerging market bonds

Advantages of Payden & Rygel emerging market bonds

For more information visit payden.com.

Important notice

You will be forwarded to the Landingpage of Asset Management.

You will be forwarded to the Landingpage of Asset Management.

You will be forwarded to the Landingpage of Asset Management.

Cancel

Terms of use / Legal notices

The contents published on the Metzler website are intended solely for information purposes.

Please note that the documents provided on this website regarding investment funds administered by Metzler Ireland Limited are a non-binding English translation of the original German documents.

Please also read the important information below in which the contractual, legal and regulatory conditions applicable to investments in investment funds are explained.

By accessing the Metzler website, users declare their agreement with the legally binding conditions of use and with the liability exclusion.

General restrictions
The Metzler website contains information on various investment funds administered by capital management companies in a number of countries. These investment funds can be distributed in different countries under certain circumstances. Details on the distribution licenses of individual investment funds can be found in the relevant sales documents and in the fund factsheets. This information is intended solely for investors in countries where the fund concerned is licensed for distribution. The information below is not intended for publication or for use by any person or company in a country in which a fund is not licensed for distribution or in which the publication or use of the information below would contravene statutory regulations or administrative procedures. In particular, this information and the investment fund shares are not intended for distribution in the United States of America or for persons who are nationals of the United States of America, companies domiciled there, or agents acting on behalf of such persons or companies. The information contained in the following pages does not constitute an offer or solicitation to acquire or dispose of any investment shares in one of the listed funds in a country in which the making of such an offer or solicitation would contravene the law; nor is the aforesaid information intended for such persons or companies to whom or to which the making of an offer or solicitation would be in contravention of the law; nor is it intended for agents acting on behalf or in favor of such persons or companies.

Liability for contents
Metzler Asset Management GmbH permanently examines and updates the information on its website. However, it cannot guarantee that these web pages are permanently updated; nor can it accept any guarantee for the correctness or completeness of the contents provided in these pages. Unless proof of willful misconduct or gross negligence can be provided, no liability claims can be accepted in respect of damages whether of a material or immaterial kind. All offers are non-binding and subject to confirmation. Metzler reserves the right to make unannounced alterations, supplements or deletions to parts or all of the web pages and to temporarily or finally suspend publication thereof.

Links
Our website contains links to external websites of third parties, the contents of which we are unable to influence. For this reason Metzler is unable to accept any guarantee for these external contents. The provider or operator of these linked web pages is responsible at all times for the contents of these pages. At the time the links were established, an examination was made to discover any potential legal violations. No unlawful contents were recognized at the time of linking. However, a permanent control of the contents of linked pages cannot be reasonably expected unless a concrete suspicion of a legal violation exists. We shall immediately remove any links if we receive knowledge of legal transgressions.

Subscribing shares or units – no investment advice
The contents of the Metzler website do not constitute investment advice; nor do they constitute a concrete recommendation or solicitation to acquire or dispose of shares or units in funds; nor are the contents intended to form the basis of a contract or component of a contract. The sole binding foundation for subscribing shares or units in a fund are the documents stated in the subscription application of the investment fund (e.g. the sales prospectus, the key investor information document, contractual conditions, annual and interim reports, company’s memorandum and articles of association or other applicable documents and provisions). These documents may be obtained free of charge from:

Metzler Asset Management GmbH

Untermainanlage 1
60329 Frankfurt/Main
Postfach 20 01 38
60605 Frankfurt/Main
Germany

Phone: (+49 - 69) 21 04 - 11 11
Fax: (+49 - 69) 21 04 - 11 79

Please read these documents carefully before you make an investment decision/recommendation as they contain precise information on the investment goals of the funds and the risks accompanying these goals.

Copyright
The contents and items compiled by Metzler on this website are subject to German copyright and trademark law. Any copying, processing, distribution or other form of exploitation beyond the copyright limits of the copyright and trademark law require the written consent of Metzler. Downloads and copies of this website are only permitted for private, non-commercial use.

Place of jurisdiction
Place of jurisdiction is Frankfurt/Main, Federal Republic of Germany.

Risk note
Please be aware of the risks associated with every investment decision. Please bear in mind that past performance and profits are not necessarily an indication of future performance and that no guarantee or assurance can be given for an investment’s future success. The value of the investment units and their returns are subject to a number of risks, such as stock market or exchange rate risks, and can thus rise or fall. It is possible that an investor might not get back the amount invested or might even sustain a loss. Please also bear in mind that an investment in funds is also subject to a vast range of other risks in addition to stock market and exchange rate risks (examples are investment focus, fund management, price developments, general economic developments etc.) which make it impossible to guarantee the success of an investment. The fiscal treatment of your investment fund distributions can be subject to changes by the legislator or to differing interpretations on the part of the fiscal authorities.

Status: April 2020