Latin America's Scandals Burn Emerging-Market Bond Funds
- Pictet, Neuberger, JPMorgan funds underperform in first half
- Brazil, Peru corruption allegations curb debt returns
Brazil's Lula Convicted of Corruption
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While emerging-market bonds extended an 18-month rally through June, money managers at some of the world’s largest debt funds were left in the dust.
Developing-nation funds from Pictet Asset Management Ltd., Neuberger Berman Group LLC and RBC Global Asset Management Ltd. ended the first half of 2017 as the worst performers in their class, according to data compiled by Bloomberg. Portfolios managed by BlackRock Inc. and JPMorgan Chase & Co.’s asset-management unit also finished in the bottom quartile.