1Q22 saw sizeable net outflows from across the Emerging Market Debt spectrum. Yet of the -$14.1 billion net outflow, during the quarter only 16% (-$2.2 billion) streamed out of local emerging market debt markets.
Digging deeper, what was also noticeable was that whilst many markets suffered as a result of the impact of the Russia-Ukraine crisis, including CEEMEA, China and much of Asia. Both the commodity beneficiaries of ASEAN and LATAM were the clear winners.
For investors with Global EMD asset managers, the question of shifting to a more regional approach to the asset class is starting to gain attention.
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