Pictet Asset Management is hosting a lunch seminar on emerging market debt (EMD) led by Eugene Choi, senior client portfolio manager with their emerging market debt team. Ms Choi will review the firm's EMD strategy and share her thoughts on what lies ahead in 2017.
For context, emerging debt fund net flows came in at around $1.4bn (€1.32 billion), the highest weekly figure for EM bonds since last year’s US presidential election. This figure confirms the broader move seen over the year to date, with net inflows into emerging debt reaching $3.8 billion (€3.6 billion).
Ms Choi will take a look at whether this could be the start of a rally, and what are the risks? The FED is tightening, Mexico is showing signs of slowing, and political troubles in Turkey are worrying markets. However, in terms of fundamentals, emerging currencies are largely undervalued and yields are very high: 6.66% on local currency debt and 5.61% on hard currency debt. There is ample room for further appreciation when confidence returns, especially as the economy is picking up again on most continents.
The talk will be held at Hotel Le Place d'Armes, at 12:00 on Tuesday 21 March. The presentation will start at 12:15, followed by a walking lunch. Interested parties can register by email: olivier@backstagecom.be.
