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The corporate debt market in emerging markets is forecasted to outpace the growth of the corporate debt market in the developed world. “This is an indication of the growing issuance and acceptance of EM corporate debt among investors,” says David Kunselman, senior portfolio manager with Excel Investment Counsel. “Many EM corporate debt is now ranked investment grade and offer substantially higher yields than government debt,”…
The medium and long-term outlook for China remains positive, in spite of slowing economic growth and market volatility. Recent market volatility is largely due to a combination of profit-taking to invest in new issues following the strong run-up in the market; and the potential for a tighter control on margin financing. However, government measures to ease policy restrictions and expedite reforms are supportive of both…
Although US interest rates are poised to rise, government bond yields in developed markets, including Canada, will still remain relatively low – in some cases lower than the rate of inflation – resulting in negative real rates of return. This means investors will theoretically lose money by investing in traditionally safe, high-quality government bonds. That’s the conundrum income-seeking investors are facing today. However, there is…
China has been actively pushing its expansion policies for rebuilding a modern Silk Road Economic Belt dubbed “One Belt One Road”.
In just one year under the visionary leadership of Prime Minister Narendra Modi, India has been catapulted into the global spotlight. It has shed its image as a country plagued by cronyism, corruption and policy paralysis to become one of the most favoured countries in the world.
The Excel High Income Fund seeks to achieve total return comprised of a combination of interest income and capital growth by investing primarily in debt securities issued by governmental and corporate issuers located in emerging market countries throughout the world.
Indian rupee has the highest total return among 23 emerging markets. India is slated to be the world’s fastest growing economy, overtaking China. According to an analysis compiled by Bloomberg, investing dollars in Indian rupees will get you a return of 5.2% including interest this year.
China’s yuan no longer undervalued as announced by IMF assessment completed on May 27 for 2015 Article IV review of the Chinese economy. The report is relevant in the light of significant appreciation seen in the last 12 months for the yuan and is the first such finding in more than a decade.
The Vice- Chairman of the Federal Reserve Board, Stanley Fischer said that interest rate increases in the US and its repercussions would be “manageable for the Emerging Markets”.Speaking to an audience in Tel Aviv, he said that emerging markets (EM) had made remarkable progress in reducing inflation, improving government debt ratios, building foreign reserves and tightening bank regulations.
The World Bank’s Russian Economic Report #3 published in April 2015 initially projected a negative growth outlook for Russia in 2015-16. The World bank this week has revised its view of the Russian economy due to slowing inflation and a stronger rouble. They predict that the economic contraction will not be as severe as previously indicated. It now sees the GDP fall of 2.7% through…
The Reserve Bank of India (RBI) cut interest rates by 25 basis points today, the third cut for the year so far. Interest rates were previously cut on January 15th and March 4th in an ongoing push to spur investment and growth in the Indian economy. In announcing the rate cut, RBI Governor Raghuram Rajan indicated that he will delay further rate cuts until an…
One year into his term as Prime Minister, Narendra Modi’s dynamic role in reforming India has not only made him one of the most recognizable world leaders but also earned him a spot on Time Magazine’s Top 100 Most Influential People. The investor-friendly Modi has also put India on track to become the world’s next economic superpower. Today, India is the fastest growing major economy…

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