DoubleLine Emerging Markets Fixed Inc I (DBLEX)

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  • Reuters2 years ago

    Hit hard in Venezuela, US bond funds keep their nerve

    BOSTON/CARACAS, Feb 12 (Reuters) - Many U.S. bond funds hammered by an almost 30-percent decline in Venezuelan bond prices last year have kept big bets there, even as the South American country struggles with food shortages, runaway inflation and plunging oil revenue. Though some portfolio managers including Pimco and Van Eck Global have pared their exposure in recent months, Venezuela remains among the largest positions for U.S. funds that focus on emerging market debt. Buttressing support for optimism is Venezuela's reputation for paying its debts. "While Venezuelan bonds have come under pressure over the last quarter, we continue to believe that the long-term story remains positive," Fidelity portfolio manager John Carlson said in his latest commentary for investors.

  • Bloomberg2 years ago

    Peru’s 80-Fold Market Boom Draws DoubleLine to Top Bonds

    DoubleLine Capital LP’s Luz Padilla has a secret weapon that’s helping her emerging-market bond fund beat 97 percent of its rivals: Peru . The Andean nation’s corporate bond market is booming, having swelled to $16 billion of dollar debt from just $200 million in 2010 while handing investors the highest returns in emerging markets this year. The growth in company borrowing mirrors that of the nation’s gross domestic product, which expanded at the fastest pace among Latin America’s biggest nation’s over the past four years as President Ollanta Humala followed his predecessors’ lead by delivering budget surpluses that bolstered investor confidence and buoyed consumer spending. “It’s a country that’s coming into its own,” Padilla, who manages DoubleLine’s Emerging Markets Fixed Income Bond Fund, said in a telephone interview from Los Angeles.

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