Investment Overview

A credit focused approach to hard currency (external) emerging markets debt
Investment team of 40+ professionals focus on country-level analysis in conjunction with associated risk factors
Investment universe of greater than 100 countries
Country-pickers approach with focus on external, sovereign exposure
Target excess return: 250-350 basis points
Tracking error range: 150-350 basis points
Information ratio target: 0.4-1.3
 

Portfolio Construction

Bottom-up portfolio construction by country and risk factor in conjunction with top-down risk measurement.
Individual positions assessed through analysis of country fundamentals, risk factor valuation, portfolio fit, and expected liquidity

Investment Team

Michael Cirami, CFA

Co-Director of Global Income Group, Portfolio Manager (Central and Eastern Europe, Middle East, Africa)

19 years of industry experience

16 years with Eaton Vance

MBA, University of Rochester

BS, Mary Washington College


Eric Stein, CFA

Co-Director of Global Income Group, Portfolio Manager (Asia)

17 years of industry experience

13 years with Eaton Vance

MBA, University of Chicago

BS, Boston University


John Baur

Director of Global Portfolio Analysis, Portfolio Manager (Latin America)

14 years of industry experience

14 years with Eaton Vance

MBA, Cornell University

BS, Massachusetts Institute of Technology


Michael O'Brien, CFA

Director of Global Trading

19 years of industry experience

14 years with Eaton Vance

MS, Boston College

BA, Colby College


 

Benchmark

J.P. Morgan Emerging Market Bond Index Global Diversified