TCW Adds Debt of EM Oil Exporters on War’s Lasting Energy Impact

The oil shock from the Iran war is set to give a lasting boost to government bonds from energy-producing developing nations, according to Christopher Hays, whose fund at TCW Group Inc. is beating its benchmark and most peers this year.

Hays has been increasing his bets on sovereign bonds from oil exporters in the $4.1 billion TCW Emerging Markets Income Fund, which he helps manage. He’s added to core positions in Angola and Argentina, and has also bought notes from Oman, Bahrain and Saudi Arabia over the past few weeks, he said in an interview.