Investment Overview

A local emerging markets debt strategy investing significantly beyond the confines of the benchmark.
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 local, sovereign exposure and flexibility to gain limited external exposure.
Target excess return: 200 basis points
Tracking error range: 150-350 basis points
Information ratio target: 0.6-1.3
 

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
Developed market interest-rate risk (U.S. and German) and currency risk (EUR/USD exchange rate) are hedged
 

Investment Team

Michael Cirami, CFA
Co-Director of Global Income Group, Portfolio Manager (Central and Eastern Europe, Middle East, Africa)
18 years of industry experience
15 years with Eaton Vance
BS, Mary Washington College
MBA, University of Rochester
Eric Stein, CFA
Co-Director of Global Income Group, Portfolio Manager (Asia)
16 years of industry experience
13 years with Eaton Vance
BS, Boston University
MBA, University of Chicago
John Baur
Director of Global Portfolio Analysis, Portfolio Manager (Latin America)
14 years of industry experience
14 years with Eaton Vance
BS, Massachusetts Institute of Technology
MBA, Cornell University
Michael O'Brien, CFA
Director of Global Trading
18 years of industry experience
13 years with Eaton Vance
BA, Colby College
MS, Boston College
 

Benchmark

JPMorgan Government Bond Index: Emerging Markets (JPM GBI-EM) Global Diversified