Emerging Markets Corporate Bond Fund


Updated May 29, 2020


Seeks maximum total return, consistent with preservation of capital and prudent investment management

Primary Portfolio

Corporate fixed income instruments tied to emerging markets



Fund Overview

Targeted access to EM credit

The fund enables investors to tap into the rapidly growing asset class of emerging markets (EM) corporate debt and the greater return potential associated with companies spread across an increasingly dynamic EM universe.

Why Invest In This Fund

Exposure to a distinct, dynamic asset class

Strong economic growth, pressing needs for infrastructure, rapid urbanization and growing consumer markets in EM should benefit companies able to capitalize on these trends. Many EM corporate bonds not only offer portfolio diversification benefits but also may provide attractive risk/reward profiles relative to both the broader EM debt universe and developed country credit..

Emphasis on strong fundamentals

The fund invests across the full range of ratings but focuses on companies with strong or improving underlying credit fundamentals and good growth prospects. It also aims to limit concentration risk by diversifying across countries, industries and issuers.

Credit and EM expertise

PIMCO is a leading manager of credit and EM bond portfolios, with a dedicated team of EM portfolio managers collaborating closely with 50+ global credit analysts. Our investment process combines bottom-up, fundamentals-driven credit analysis with in-depth country knowledge. This helps us to respond quickly to changing conditions in emerging economies and to seek to capitalize on attractive investment opportunities.

Our Expertise

The EM portfolio management team, strategically located around the world, draws on our time-tested investment process, combining macroeconomic forecasting with rigorous bottom-up credit research. PIMCO has been managing EM portfolios since 1997.


J.P. Morgan Corporate Emerging Markets Bond Index Diversified (CEMBI)


The J.P. Morgan Corporate Emerging Markets Bond Index Diversified (CEMBI) is a uniquely weighted version of the CEMBI index. It limits the weights of those index countries with larger corporate debt stocks by only including a specified portion of these countries eligible current face amounts of debt outstanding. The CEMBI Diversified results in well-distributed, more balanced weightings for countries included in the index. The countries covered in the CEMBI Diversified are identical to those covered by the CEMBI. It is not possible to invest directly in an unmanaged index.


Monthly with Daily Accrual






Head of Emerging Markets Portfolio Management, Pramol Dhawan, discusses recent dislocations in the asset class and where opportunities may emerge as the volatility subsides.

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We see emerging markets potentially approaching a pivot point over the coming six months toward recovery or weaker growth.

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A new round of reforms could help maintain the delicate balance between growth and financial prudence.

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Kofi Bentsi

Portfolio Manager, Emerging Market Corporate Bonds

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Mohit Mittal

Portfolio Manager, Liability Driven Investment and Credit

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Yacov Arnopolin

Portfolio Manager, Emerging Markets

View Profile for Yacov Arnopolin

Yields & Distributions