Emerging Market Debt

The strategy seeks to deliver competitive total returns by using a combination of top-down macroeconomic analysis combined with a bottom-up fundamental assessment to identify attractive countries and securities.

 

Philosophy

The team takes a long-term horizon when investing in emerging-market economies, seeking countries with improving sovereign credit outlooks and attractive, stable companies. The team believes a successful emerging-market debt strategy should incorporate a flexible approach, making strategic allocations to hard currency sovereign and corporate debt and tactical allocations to local currency debt. The team believes their flexible approach allows them to achieve a deeper level of insight across the full spectrum of investment opportunities in the emerging-market debt universe.

Managed by

Paolo H. Valle

Senior Portfolio Manager, Emerging Markets Debt

Paolo is a managing director and senior portfolio manager at Manulife Investment Management, providing both portfolio management and investment analysis on the emerging-market debt strategies. Prior to joining the company, Paolo was a senior portfolio manager at Federated Investment Management, chief investment officer of Ramirez Asset Management, a managing partner with Valle Advisors, and a first vice president with Merrill Lynch Investment Management. Paolo began his career at PNC Financial, and over a 10-year career there, rose to become vice president and head of the emerging-market group.

  • Education: B.S. in Business Administration, Universidad del Pacifico, Peru; M.B.A., University of Pittsburgh
  • Joined the company: 2013
  • Began career: 1982
Paolo H. Valle

Roberto Sanchez-Dahl, CFA

Senior Portfolio Manager, Emerging Markets Debt

Roberto is a managing director and senior portfolio manager at Manulife Investment Management, providing both portfolio management and investment analysis on the emerging-market debt strategies. Prior to joining the company, Roberto was a senior portfolio manager and senior investment analyst at Federated Investment Management and an associate in the credit department at Goldman Sachs; he began his career in 1993 with Moody’s Investors Service. Roberto holds the Certified Financial Analyst designation.

  • Education: B.S. in Mechanical Electric Engineering, Universidad Nacional Autonoma de Mexico; A.C.F., Instituto Tecnologico Autonomo de Mexico; M.B.A., Columbia University, New York
  • Joined the company: 2013
  • Began career: 1993
Roberto Sanchez-Dahl, CFA

Elina Theodorakopoulou

Portfolio Manager, Emerging Markets Debt

Elina provides portfolio management and investment analysis on emerging-market debt. Prior to joining the company, she worked at Fulcrum Asset Management, where she was the manager of two absolute return fixed-income funds and a senior member of the global macro discretionary team. Prior to that, she worked at Société Générale in cross-asset sales to institutional clients. She began her career at Santander Global Banking.

  • Education: B.Sc. International and European Economic Studies, Athens University of Economics and Business; M.Sc. International Securities, M.Sc. in International Banking and Financial Services, University of Reading
  • Joined the company: 2019
  • Began career: 2008
Elina Theodorakopoulou

Vehicles

At Manulife Investment Management, we offer investment strategies through a variety of vehicles to suit a broad range of client needs. Contact our institutional sales or consultant relations team to find out if this strategy/vehicle is offered in your region. 

  • Separate accounts

    Our separate accounts and separately managed accounts (SMAs) are designed for institutions and high-net-worth clients seeking tailored investment solutions and direct ownership of securities. 

  • CITs

    Our professionally managed collective investment trusts (CITs) are available in certain qualified retirement plans.

  • Mutual funds

    Mutual funds are liquid, professionally managed portfolios which are available to both institutional and retail investors.


Key facts

  • Inception date

    March 2007

  • Strategy AUM (USD)

    $1.05 billion

  • Benchmark

    JP Morgan EMBI Global Index

  • Style

    Total Return

  • Expected tracking error

    2x to 3x expected alpha

  • Average portfolio manager experience

    33 years

Important disclosures

All information shown is as of September 30, 2020, unless otherwise indicated. Strategy-level information may differ from vehicle-specific information. Not all vehicles are available in all locations and may be offered through affiliates of Manulife Investment Management.


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