Emerging Markets Local Currency Income Fund Launched

The TCW Emerging Markets Local Currency Income Fund (TGWIX/TGWNX) invests in emerging markets sovereign and corporate bonds denominated in local currencies. The fund is expected to own bonds across ten to 25 emerging markets countries and will hedge currencies on an opportunistic basis.  

The fund is managed by Dave Robbins and Penny Foley, who also manage the $1.5 billion TCW Emerging Markets Income Fund (TGEIX/TGINX), and applies the same top-down / bottom-up research process to identify investment opportunities.  

“The market for local EM bonds is about twice the size of the U.S.-dollar denominated EM universe,” said Robbins, in the announcement. “As a result, many local EM bond markets provide better liquidity and a more diversified set of investment options.”