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Top Emerging Bond Manager Sees Payoff in Frontier Markets

  • Ukraine, Nigeria seen less vulnerable to dollar movement
  • It’s still an OK environment for emerging markets: Calich
 Kiev, Ukraine.
Photographer: Vincent Mundy/Bloomberg
Updated on

Fed up with the U.S.-China trade war, Claudia Calich, a top emerging-markets bond manager, is finding hidden gems in frontier markets less affected by the conflict.

Ukraine, Nigeria and Kazakhstan offer opportunities because local developments dominate the direction of their markets, said London-based Calich at M&G Investments. That makes their currencies less vulnerable to the direction of the dollar and changes in investor sentiment caused by the trade dispute.