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About Stone Harbor

About

Stone Harbor is a global credit specialist, with deep experience navigating global fixed income markets for institutional investors.

Key Differentiators:

  • Active and dynamic management using in-depth research and a rigorous, consistent investment process over market cycles
  • A history of innovation and a long track record in emerging markets debt (EMD)
  • 100% employee ownership that’s broadly dispersed, aligning our interests with those of our clients
  • Stable investment teams across a number of market cycles
  • Proprietary technology that offers risk transparency, capable of isolating daily active returns within every portfolio.
  • A truly global perspective, with clients around the world and offices on four continents

Consistent Team, Philosophy & Process

Team

The Fund is managed by an experienced portfolio management team that averages more than 20 years of experience. As pioneers in emerging markets debt (EMD) investing, the team has established a long track record managing portfolios in emerging sovereign and corporate debt markets denominated in external and local currencies. A number of team members have worked together for decades.

Key Facts:
  • Collaborative investment approach leverages the skills and knowledge of a team with decades of EMD investing experience
  • All PMs serve as country analysts, conducting in-depth political, currency and economic analysis on a daily basis, supplemented by roughly 35+ country visits throughout the year across the team
  • Two PhD economists—one each for developed and emerging markets—offer global macroeconomic perspective and actionable investment insights
  • Investment team is complemented by a deep bench of risk and quantitative analysts

Philosophy & Process

We believe country risk analysis is the most important basis in managing EMD portfolios. Corporate exposure and currency selection decisions are rooted in this intensive groundwork. In-house fundamental research accounts for the majority of the investment team’s idea generation and underscores our credit-intensive investment process. We perform extensive economic, political, currency and credit analysis on the investable universe of emerging market countries that leads to an assessment of each country's ability and willingness to service its external debt obligations. For EM corporate investments, we target industries with improving credit fundamentals and attractive valuations. Ultimately, we believe that over time fundamental analysis remains a central driver of returns for the asset class, and our process remains focused on that important aspect.

The Funds invest in fixed income securities and related instruments that are economically tied to emerging markets countries, including sovereign external debt, local currency debt (non‐U.S. dollar) and corporate debt from issuers domiciled in emerging markets. Country and currency decisions are based on our disciplined investment process, which includes an assessment of macroeconomic fundamentals, policies and politics, as well as the attractiveness of spreads, currencies and interest rates. Corporate investment decisions combine judgments of the relative attractiveness of industries with the credit fundamentals of individual companies.

The team has extensive experience in allocating assets across countries, market sectors (local and external currency sovereign and corporate instruments) and issues based on attractive relative valuations or changes in fundamental and technical factors. In addition to traditional financial metrics, the team integrates environmental, social and governance (“ESG”) analysis into the investment process.

Our People

The team has been managing investment products for institutional clients since the early 1990s. As pioneers in emerging markets debt (EMD) investing, the team has established a long track record managing portfolios in emerging sovereign and corporate debt markets denominated in external and local currencies.

Our collaborative team approach enables us to operate as a cohesive, disciplined group as we seek to deliver consistent long-term outperformance across our range of strategies. As a 100% employee-owned firm with broadly dispersed ownership, our interests are aligned with those of our clients. We are committed to delivering outstanding portfolio performance and superior client service.

Our Team

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Phone
1-877-206-0791

Email
info@shiplpcef.com

Stone Harbor Investment Partners LP
www.shiplp.com

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