The DoubleLine Emerging Markets Fixed Income (EMFI) team, led by Luz Padilla remains positive about the asset class despite recent “headline risks” coming from Russia and the Ukraine. As the Ukrainian conflict continues to make headlines, the team assigns a low probability of a military solution. Uncertainty aside, DoubleLine believes Russia remains well positioned over the long-term with low debt-to-GDP levels, strong currency reserves, and a strong export economy. DoubleLine’s EM exposure to Russia is focused on strong corporate and quasi-sovereign credits primarily in the oil and gas, banking and telecom sectors. We have no exposure to the Ukraine.
The team favors investments in Latin America & Caribbean with a focus on corporate issues in industries that are deemed essential for growth. Strong demographics and improving credit fundamentals should bode well for future growth within these areas. The team continues to seek strong risk-adjusted returns and remains all USD-denominated at this time.
For more information on this strategy, please visit Emerging Markets Fixed Income under ‘Investment Strategies’ or click here.
For information on the DoubleLine Emerging Markets Fixed Income Fund, please visit doublelinefunds.com or click here.
DoubleLine Videos (12/2013)
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02-12-14 "Gundlach: QE will not end in 2014"
02-12-14 "Gundlach: Market has discounted tapering" http://video.cnbc.com/gallery/?video=3000245506
Information presented was current as of the date the material was prepared by an outside party. DoubleLine assumes no duty to update this information.
Documents and Commentary
Tuesday, January 8, 2013
Jeffrey Gundlach "2013 Market Outlook: Year of the Snake"
Click here for Webcast Recap (pdf)