Neuberger Berman launches emerging market debt fund
Neuberger Berman has announced the launch of the Neuberger Berman Short Duration Emerging Market Debt Fund, a sub-fund of its Irish-domiciled Ucits fund umbrella, Neuberger Berman Investment Funds.
The fund was launched with assets of $21m.
The strategy is co-managed by portfolio managers Nish Popat, Jennifer Gorgoll and Bart Van der Made. The portfolio managers are part of Neuberger Berman’s global multi-site Emerging Market Debt team, which joined the firm earlier this year.
This fund follows the launch of three Emerging Market Debt Ucits funds by the firm in June of this year and the Neuberger Berman Short Duration High Yield fund in January 2012.
The fund seeks to take advantage of the attractive yield offered by both EMD Sovereign and Corporate Debt, whilst minimising the impact of market volatility by focusing on shorter dated bonds, Neuberger Berman said.
The fund will exclusively focus on “hard currency” bonds and avoid the use of synthetic investment exposure, ensuring a quality bias to the portfolio.
Popat said: “Investors continue to seek returns in a rising rate environment and we believe the NB Short Duration Emerging Market Debt Fund offers access to an attractive part of the capital structure, whilst limiting the potential portfolio impacts of rising interest rates.”