Investment Overview

A local emerging markets debt strategy investing significantly beyond the confines of the benchmark.
Investment team of 50+ professionals focus on country-level analysis in conjunction with associated risk factors.
Investment universe of greater than 100 countries.
Country-pickers approach with focus on local, sovereign exposure and flexibility to gain limited external exposure.
Target excess return: 200 basis points
Tracking error range: 150-350 basis points
Information ratio target: 0.6-1.3
 

Portfolio Construction

Bottom-up portfolio construction by country and risk factor in conjunction with top-down risk measurement
Individual positions assessed through analysis of country fundamentals, risk factor valuation, portfolio fit, and expected liquidity
Developed market interest-rate risk (U.S. and German) and currency risk (EUR/USD exchange rate) are hedged

Investment Team

Michael Cirami, CFA

Co-Director of Global Income Group, Portfolio Manager (Central and Eastern Europe, Middle East, Africa)

19 years of industry experience

16 years with Eaton Vance

MBA, University of Rochester

B.S., Mary Washington College


Eric Stein, CFA

Co-Director of Global Income Group, Portfolio Manager (Asia)

17 years of industry experience

13 years with Eaton Vance

MBA, University of Chicago

B.S., Boston University


John Baur

Director of Global Portfolio Analysis, Portfolio Manager (Latin America)

14 years of industry experience

14 years with Eaton Vance

MBA, Cornell University

B.S., Massachusetts Institute of Technology


Michael O'Brien, CFA

Director of Global Trading

19 years of industry experience

14 years with Eaton Vance

M.S., Boston College

BA, Colby College


 

Benchmark

Benchmark: J.P. Morgan Government Bond Index: Emerging Market (JPM GBI-EM) Global Diversified
 

Disclosure

Where possible the Strategy seeks to take into account ESG factors into its research and decision making, however, the Strategy noted herein is classified as an Article 6 strategy of the EU Council Disclosure Regulation (2019/2088).