EMERGING MARKETS CORPORATE BONDS UPDATE

Key messages:

  • Pfizer/BioNTech Vakzine study indicates vaccine with 90% prevention rate.
  • China plans to move from emerging market to a dominant global player with “quality over quantity” principle.
  • EM companies report good figures.

Our fund’s performance in October was slightly better
than the benchmark. So far, very satisfying performance in November. To
continue a spread tightening, we have expanded our positions in convertible
bonds.

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