Apr 9, 12:00 PM - 01:30 PM (ET)
Emerging markets debt (EMD) has long languished under a cloud of skepticism and disappointment. Complexities and unique risks embedded in the asset class tend to intimidate investors, while limitations of the widely followed EMD benchmarks perpetuate myths of volatility, unpredictability, and fragility. Many investors who have approached the asset class through the lens of the benchmark have had unpleasant experiences marked by disappointing performance, stomach-churning volatility, and diversification illusion.
Investing in EMD does not have to be so unpleasant. By understanding EMD’s embedded uncertainties, investors may be able to achieve a more favorable outcome. With an embedded trading team, we identify and invest in countries outside the scope of the benchmarks, creating the broadest investment universe possible. We remain aware of the embedded risks in the asset class and seek to hedge developed market risks while focusing on less efficient segments of the market where we perceive there are greater opportunities for alpha generation.
Our presenter is Michael Cirami, CFA. Michael is a managing director of Artisan Partners and a portfolio manager on the EMsights Capital Group. In this role, he is a portfolio manager for the Artisan Emerging Markets Debt Opportunities, Global Unconstrained and Emerging Markets Local Opportunities Strategies. Prior to joining Artisan Partners in September 2021, Mr. Cirami served as Eaton Vance’s codirector of emerging markets and the coordinating portfolio manager on the emerging markets team. Before that, Mr. Cirami worked at State Street Bank in Boston, Luxembourg and Munich, and at BT&T Asset Management in Zurich. Mr. Cirami earned a bachelor’s degree (cum laude) from Mary Washington College and a master’s degree in business administration with honors from the William E. Simon School at the University of Rochester. He also studied at WHU Otto Beisheim School of Management in Koblenz, Germany. REGISTER HERE
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