JEMB

JEMB focuses on emerging market debt, denominated in stable hard currencies like the USD or Euro. The strategy aims to capitalize on the growth potential of emerging markets while mitigating currency risk through hard currency exposure. Portfolio managers make investment decisions using a bottom-up approach to select securities and adapt to market conditions. Investments include government, quasi-sovereign, and corporate bonds, as well as asset- and mortgage-backed securities. Specifically, the portfolio can allocate up to 30% to corporate debt and up to 10% to ABS, MBS, contingent convertible bonds, and distressed securities. Additionally, the fund manages risk through derivatives, such as forward currency contracts and interest rate futures, and may invest up to 20% of its assets in total return swaps. Currency exposure is primarily hedged to the US dollar, though the fund may hold other hard currencies. Up to one-third of the fund's assets may be allocated to lending.