Emerging Market

Leverage the resources and capabilities of a global fixed-income leader

Eaton Vance ventures beyond the limited reach of many emerging market bonds, offering investors access to one of the broadest spectrums of investable opportunities in this asset class.



Emerging Markets Local Income

  • Strategy Focus: Local currency-denominated debt
  • AUM: $1,894 Million
  • Inception Date: September 1, 2007
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Emerging Markets Debt Opportunities

  • Strategy Focus: Blend of H/C and L/C, including corporates
  • AUM: $383 Million
  • Inception Date: April 1, 2013
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Emerging Markets Debt Hard Currency Short Duration

  • Strategy Focus: Hard currency denominated debt with a short duration approach
  • AUM: $295.7 Million
  • Inception Date: September 1, 2015
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Emerging Markets Debt Hard Currency

  • Strategy Focus: Hard currency denominated debt
  • AUM: $8.1 Million
  • Inception Date: May 1, 2018
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Why us?

World-class capabilities

Eaton Vance's Global Income Team has more than 50 investment professionals covering over 100 developing countries and local trading capabilities in more than 80 developing countries.


Investment professionals


Portfolio managers


CFA charterholders


Under management*


Country visits each year


People in trading and operations


Countries with local trading


Countries researched

* Total emerging market debt assets managed as of September 30, 2020. This figure represents the AUM in dedicated EMD strategies as well as the EMD portion of global unconstrained strategies.

Extensive research

Few managers can match Eaton Vance’s extensive research coverage (more than 100 developing countries). Our country coverage - shown in blue in the map below - is also much broader than the country composition of commonly used EM debt indices.

Number of countries in widely used EM debt indices

JPM GBI EM Global Diversified

Local currency-denominated sovereign bonds


JPM EMBI Global Diversified

External (hard currency) sovereign bonds


JPM CEMBI Broad Diversified

Corporate bonds


Source: JP Morgan as of September 30, 2020

Number of countries included in widely used EM debt indices

Eaton Vance's deep research capability allows the team to explore the entire investment opportunity set. Below are some examples of the team's research insights into both benchmark and off-benchmark markets.

A skilled leadership team

Michael Cirami, CFA

Michael Cirami, CFA

Director of Global Income Group

Joined Eaton Vance in 2003.
MBA, University of Rochester.
B.S. Mary Washington College.

John Baur

John Baur

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

Joined Eaton Vance in 2005.
MBA, Cornell University.
B.S. Massachusetts Institute of Technology.

Michael O'Brien

Michael O'Brien, CFA

Director of Global Trading

Joined Eaton Vance in 2005.
M.S. Boston College.
B.A. Colby College.

Marshall Stocker, PhD, CFA

Marshall Stocker, PhD, CFA

Director of Country Research and Portfolio Manager

Joined Eaton Vance in 2013.
Ph.D, Universidad Francisco Marroquin.
MBA, Cornell University.
B.S. Cornell University.

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