The Investec GSF Emerging Markets Local Currency Dynamic Debt and GSF Emerging Markets Currency funds will both be run by Peter Eerdmans and his emerging markets debt team. These two Luxembourg-based Sicavs follow on from the GSF Emerging Markets Blended Debt Fund launched on 1 December.
The Dynamic Debt Fund gives exposure to emerging market debt in a universe of 23 of the more liquid emerging markets. It will take long and short positions to exploit what it sees as the large disparity of returns among countries in this universe.
The Currency Fund, managed by Werner Gey van Pittius alongside Eerdmans, will give investors access to a basket of 36 actively managed emerging market currencies. They are expecting to give returns largely uncorrelated to the equity and bond markets.
Meanwhile, the Blended Debt Fund introduced in December actively manages exposure and uses tactical allocations between emerging market bonds issued in local and hard currency as well as the local currencies themselves. It is also run by Eerdmans and his emerging markets debt team.