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Aberdeen Emerging Markets Debt

Investment Philosophy and Process

At Aberdeen, our portfolio managers do all the research themselves. They hold over 100 meetings each year with senior policy makers in over 40 emerging market countries. This hard work gives us conviction in our investment decisions. So we pay little attention to consensus, peer groups or the benchmark.

A meticulous approach

Comprehensive country research, set in the context of global economic developments, forms the foundation of our investment process. Our research is consistently updated to provide a forward-looking analysis of a country’s credit profile, together with the developments in its capital markets.

Rigorous country research

A country’s macroeconomic profile, the nature of its political institutions and robustness of its microeconomic institutions all play a pivotal role in providing an analysis of a country’s creditworthiness.

Creating the opportunity set

Our analysis of the market structure and market technical factors can point towards opportunities that may be confirmed or rejected by our fundamental analysis. These two processes create our emerging market debt opportunity set.

Traditional risk management has limited relevance

We believe that historic performance and volatility measures are inappropriate measures for gauging forward-looking risk and volatility in emerging markets. Our scenario analysis for each instrument type in each country is based on our own assessment of forward-looking risks for direct comparison across instrument types among different countries.

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