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Luz Padilla /Doubleline E M Bonds Webcast Tue10/06
Emerging Markets Webcast It is scheduled for: Tue, Oct 6, 2015 1:15 PM PDT "Emerging Markets Outlook: A Cautious Road Ahead"
Please join us for a live webcast titled "Emerging Markets Outlook: A Cautious Road Ahead" hosted by: Luz Padilla Luz Padilla, Director of Emerging Markets Fixed Income, will provide an update on emerging markets in additon to discussing the strategy, sector allocations and outlook for the DoubleLine Emerging Markets Fixed Income Fund (DBLEX / DLENX) for 2015. Register http://go.pardot.com/e/103892/starthere-jsp-ei-1051157/fg9n/1335787
A RISKIER APPROACH Templeton Betting on `Multi-Decade' Emerging-Market Opportunity October 5, 2015 — 5:37 PM CDT Updated on October 6, 2015 — 4:36 PM CDT The recent selloff in emerging-market assets, including Mexico and Malaysia’s currencies, has opened up investment opportunities not seen for decades, according to Franklin Templeton’s Michael Hasenstab, who’s well known for making contrarian bets.
“On a valuation basis, this is not a once-a-decade, this is a multi-decade opportunity to be buying very cheap assets,” Hasenstab, who oversees 30 funds with $143 billion in assets, said in an interview posted on YouTube Monday. “We are not buying everything,” but “there are a handful that have been caught up in the turmoil that we think are diamonds in the rough,” he said. His reputation, however, was tarnished lately after an investment in Ukraine turned sour as the conflict-torn country defaulted on its bonds. A Templeton-led creditor committee holding about half of the country’s $18 billion Eurobonds reached a restructuring deal with the Ukraine government in August.
Crash, the 5y figures I see on M* for annualized total return are 4.16% for DBLEX and 3.42% for PREMX, which makes some difference (top 7% vs. top 24%, five stars vs. four stars), and DBLEX is "low" on the risk rating vs. "average" for PREMX.
Padilla and Gundlach said at the outset, and have repeated frequently, that the objective of the fund is market return with lower risk, and looks like they've delivered.
Both are good funds, but DBLEX has been a little ahead on return: risk since inception.
Hello, Andy. Slight, maybe infinitesimal, difference between DBLEX Institutional shares and the DL retail shares, eh? (DLENX.) Hypothetical $10,000 in DLENX has grown to $12,113.00 . PREMX = $11,828.00. DL yield = 4.81% and yield in PREMX = 6.71%.
Hmmmmm. Higher yield has made less money in PREMX vs. DLENX. Curious.
Comments
Templeton Betting on `Multi-Decade' Emerging-Market Opportunity
October 5, 2015 — 5:37 PM CDT
Updated on October 6, 2015 — 4:36 PM CDT
The recent selloff in emerging-market assets, including Mexico and Malaysia’s currencies, has opened up investment opportunities not seen for decades, according to Franklin Templeton’s Michael Hasenstab, who’s well known for making contrarian bets.
“On a valuation basis, this is not a once-a-decade, this is a multi-decade opportunity to be buying very cheap assets,” Hasenstab, who oversees 30 funds with $143 billion in assets, said in an interview posted on YouTube Monday. “We are not buying everything,” but “there are a handful that have been caught up in the turmoil that we think are diamonds in the rough,” he said.
His reputation, however, was tarnished lately after an investment in Ukraine turned sour as the conflict-torn country defaulted on its bonds. A Templeton-led creditor committee holding about half of the country’s $18 billion Eurobonds reached a restructuring deal with the Ukraine government in August.
Hasenstab’s Templeton Global Bond Fund, which manages $61 billion, has lost 6.1 percent this year, trailing 85 percent of its competitors, as some of its wagers on emerging markets flopped, according to Morningstar Inc. It returned 7.1 percent annually over the past decade, beating 99 percent of its peers.
http://www.bloomberg.com/news/articles/2015-10-05/templeton-betting-on-multi-decade-emerging-market-opportunity
Fact Sheet 6/30/2015
https://www.franklintempleton.com/forms-literature/download/406-FF
Padilla and Gundlach said at the outset, and have repeated frequently, that the objective of the fund is market return with lower risk, and looks like they've delivered.
Both are good funds, but DBLEX has been a little ahead on return: risk since inception.
Cheers, AJ
Hmmmmm. Higher yield has made less money in PREMX vs. DLENX. Curious.
I've owned both at different times, don't have either now; only EM bonds now are in the etf PCY, but that's more of a tactical buy/sell deal.