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IPE: Outlook for EM debt a subject of debate
Emerging markets have taken a heavy toll from February onwards as a result of the COVID-19 pandemic. Not only did they suffer from the direct health impact of the virus, but also from capital outflows and sharp depreciation in their respective currencies. Despite the winding down of the initial turmoil, there remain questions around the direction of EM debt as an asset class.
Bob Noyen, Chief Investment Officer at Record Currency Management, believes that the sharp sell-off in March was due to a “dysfunctional” market, adding that, for institutional investors in search of real returns at the 20- to 30-year horizon, allocating a certain proportion to EM assets is crucial.
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