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TCW Emerging Markets Income Fund reaches USD1bn in assets


The TCW Emerging Markets Income Fund has reached USD1bn in assets under management for the first time.

The fund has experienced significant asset growth since mid-December 2009 when veteran TCW portfolio managers Dave Robbins (pictured) and Penny Foley assumed management of the fund.

The fund’s assets have grown from USD150m to USD1.0bn during that time period.

"This is an important milestone for the fund, and speaks to the investment opportunities in emerging markets," says Robbins. "With growth subdued across the developed world, investors are taking a closer look at emerging markets, and we believe the economic and credit fundamentals in those markets are very solid."

"We believe emerging markets offer a compelling opportunity right now," adds Foley. "The growth rates are stronger, the sovereign balance sheets are better, and the long-term track record of consistent performance is impressive. We’re pleased that investors have recognised both the opportunity and TCW’s ability to take advantage of it."

The fund’s ten-year returns rank in the top 18 per cent of 41 funds tracked by Morningstar in the emerging markets bond category. Its five-year returns rank in the top one per cent of 58 funds tracked by Morningstar and its three-year returns place it in the top one per cent of 87 funds in the category. Its one-year returns place it in the top three per cent of 114 funds in the category.

It invests in sovereign debt of emerging markets countries, corporate debt of large firms, and so-called "quasi-sovereign" debt of large, critically important enterprises. The fund applies a top-down / bottom-up research process to monitor trends in global credit and earnings fundamentals, identify opportunities, and achieve consistent returns over time.

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