DoubleLine Bets on Corporate Debt in Emerging Markets
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DoubleLine Capital LP is making a long-term wager on developing-nation corporate debt.
Luz Padilla, who oversees about $3.8 billion as director of emerging-markets fixed income, said in a report on the Los Angeles-based asset manager’s website that corporate bond returns will exceed gains in government and local-currency securities over the next 10 years. Her DoubleLine Emerging Markets Fixed Income Bond Fund has gained 11.2 percent over the past year, beating 96 percent of peers, data compiled by Bloomberg show.