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Emerging Markets Debt Fund Launched By Northern Trust

To offer investors exposure to the full spectrum of emerging markets debt with the potential for higher yields, diversification and an attractive risk-return profile, Northern Trust has launched the Northern Multi-Manager Emerging Markets Debt Opportunity Fund (NMEDX).

“The emerging markets debt asset class has evolved over the past few decades, driven by improving fundamentals, structural changes and increased investor interest,” said Chris Vella, Chief Investment Officer for Multi-Manager Solutions at Northern Trust. “Our fund intends to capture diverse sources of return from emerging markets debt, including local and external currencies, and sovereign, quasi-sovereign and corporate issuers. This style provides investment managers with the broadest opportunity set to invest in and allows for expanded alpha 1 potential in their sector and security allocation decisions.”

Launched on December 3, 2013, the Northern Multi-Manager Emerging Markets Debt Opportunity Fund invests at least 80 percent of net assets in fixed income securities that provide exposure to a blend of local and hard currency emerging or frontier market issuers. The Fund can also opportunistically invest in emerging market corporate bonds.

The Fund's total net operating expense ratio is .93 percent 2 and the minimum investment is $100,000. The Fund takes a multi-manager approach, with assets allocated to multiple outside sub-advisers using distinctive investment styles. Northern Trust will conduct manager research, selection, optimization and oversight. Current investment sub-advisers to the fund are:

  • BlueBay Asset Management LLP – Fundamental, bottom-up country analysis and selection focus. Relative value analysis then determines trade-offs between potential investments and risk management.
  • Lazard Asset Management LLC – Top down approach that begins with an assessment of the global macro environment followed, by bottom-up analysis of individual countries.

Northern Trust is a pioneer in multi-manager solutions, having launched our first multi-manager program in 1979. As of September 30, 2013, Northern Trust managed approximately $37.8 billion assets in multi-manager programs, in addition to assets under advisement of $43.8 billion for institutional and personal clients. Northern Trust invests with more than 200 external managers worldwide, offering personal and institutional solutions that include retail mutual funds, alternative asset classes, emerging manager programs and total investment program management.

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