Investment Approach

• Focus primarily on corporate debt issued by companies domiciled within emerging market countries.
• Integrate proprietary credit research and relative value analysis.
• Establish independent credit rating for each company and country.
• Add value primarily through individual security selection decisions.
• Limit risk through diversification.
• Employ long-term investment horizon combined with low portfolio turnover.
• Utilize collaboration across macroeconomic, equity and corporate debt teams to take a comprehensive view of corporate debt securities.