Emerging Market Debtas of December 31, 2016 Print

We are active fixed income managers using a team approach of cross-asset class portfolio managers, research analysts, and traders. We utilize 14 dedicated credit analysts, a special situation sovereign analyst and in-depth currency valuation to drive our returns through credit, country and currency decisions. Our research process combines a top-down geographic/country driven approach with bottom-up security selection to identify securities with attractive relative value. We believe that bottom-up security selection within a framework that provides a top-down macroeconomic overlay leads to a value added approach to emerging markets, from which we strive to provide alpha from a combination of credit, country and currency selection.

We take a blended approach to managing Emerging Market Debt portfolios as we believe that this allows us to be dynamic in our allocation and effectively allocate capital to where we see opportunity. We invest in both U.S. dollar and local currency sovereign debt, in global credit opportunities across the ratings spectrum. We actively use currency hedging to minimize volatility. Our focus is on generating returns from the opportunities that we believe have the most attractive risk/reward, not the opportunities predetermined by an underlying index.

Assets Under Management:
$2,453 million
Portfolio Leadership Team:

Scott J. Moses, CFA
A. Todd Howard, CFA VIEW FULL TEAM
Benchmarks:
Logan Circle Partners Emerging Markets Blended Index (35% JP Morgan EMBI Global Index,35% JP Morgan CEMBI Broad Diversified Index,30% JP Morgan GBI-EM Global Index)
Inception Date:
November 1, 2006
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Available Vehicles:

Separately Managed Accounts
Collective Investment Trust
Limited Partnership Fund

  SECTOR WEIGHTS (Range)
Target Alpha vs.
EMBI Global1
Target Alpha vs.
Blended Benchmark2
325 basis points 200 basis points
USD Sovereign EM Corporate/
Quasi-Sovereign
Non-U.S. Dollar EM Cash
25%–65% 30%–70% 5%–40% 0%–10%

1 Target Alpha is an investment objective and not a promise of future results or performance. It is calculated gross of fees over a 3 to 5 year time horizon. There can be no assurance that a portfolio will achieve its target alpha.

2 The LCP Emerging Markets Blended Index is comprised of 35% JP Morgan EMBI Global Index, 35% JP Morgan CEMBI Broad Diversified Index, and 30% JP Morgan GBI-EM Global Index, and is presented here for discussion purposes only.

Investors should carefully consider their investment objectives, risks, fees, charges and expenses before investing any money. To obtain this and other information, please email asklogan@lcpim.com to request more information. Please review the Terms of Use of this site for additional details.