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A Leading Emerging Market Fund Bargain Hunts In Mexico And Brazil: (DLENX)
FYI: Luz Padilla knows a thing or two about emerging market crises. She started managing money in the mid-1990s, just before Mexico’s peso crisis (better known as the “tequila effect”) hit, heralding a wave of currency problems. One phrase she learned back then and still bears in mind today: “There’s always more than one cockroach.”
It’s a warning to be patient: However tempting it might be to buy when markets seem low, they often go lower. That’s why Padilla, who manages the $942 million DoubleLine Emerging Markets Fixed Income (DLENX) fund, was cautious as this year’s emerging markets rout unfolded: Currencies in Argentina and Turkey plunged and rates soared; other markets quivered. The JPMorgan EMBI Global Diversified index tracking emerging market bonds has fallen 6% this year, its worst showing since 2008. Regards, Ted https://www.barrons.com/articles/doubleline-emerging-markets-fund-1544063376?refsec=funds
