FIRST STATE EMERGING MARKETS BOND
Managed by Helene Williamson, this was launched in October 2011 and is therefore still shy of its three-year track record. Nevertheless, the £47m fund has delivered consistent performance, ranking first in the sector for the 12 months to May 8, albeit with a loss of 0.89 per cent. Meanwhile, it is currently in second place with its year-to-date return of 5.62 per cent.
BARING EMERGING MARKET DEBT LOCAL CURRENCY
One of the funds focusing specifically on local currency denominated investments, this offshore vehicle is managed by Thanasis Petronikolos. At $128.5m assets under management it is a reasonable size, and while its three-year performance places it in the bottom quartile of the sector, the 12-month performance is more promising, placing it in the top 10 in the sector with a loss of 8.07 per cent. For the year-to-date, however, it is ranked fourth with a return of 4.63 per cent, and should the local currency sector stage a comeback in the second half of the year, as some are predicting, this could produce even stronger results.
