Boston-based investment house Eaton Vance Management has launched an Irish-registered Ucits emerging markets local income fund.
The fund seeks to generate total return by investing in fixed income securities denominated in currencies of emerging market countries and/or issued by emerging market sovereigns or corporates.
It may also invest in derivative instruments based on currencies, interest rates or issuers of emerging market countries.
While it is benchmark aware, it will have significant non-benchmark exposure for an expanded opportunity set, greater diversification and duration and currency flexibility, the firm said.
The fund’s portfolio managers are Michael Cirami, co-director of global income, Eric Stein, co-director of global income, John Baur, director of global portfolio analysis and Danat Abdrakhmanov, portfolio manager.
Cirami said the breadth of the fund’s investment universe and Eaton Vance’s fundamental, bottom-up research would appeal to investors wanting further exposure to emerging markets.
Eaton Vance has $432.2 billion (€347.5 billion) in assets under management.
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