Investor Summary

The fund is co-managed by Philip Meier and Belinda Hill, both seasoned emerging markets debt professionals with over 20 years of experience. Philip Meier serves as Partner, Deputy Chief Investment Officer, and Head of Emerging Markets Debt at Gramercy, bringing 18 years of specialized experience. Belinda Hill is a Managing Director and CFA Charterholder with extensive emerging markets credit experience, including three years as an Emerging Markets Analyst at Apollo Global Management and previous experience at Schroders Investment Management focusing on Latin America. The team benefits from senior leadership guidance provided by Robert Koenigsberger, Managing Partner and CIO, and Mohamed A. El-Erian, who serves as Chair.

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Fund Strategy

The fund seeks long-term capital appreciation by investing at least 80% of its net assets in fixed income securities economically tied to emerging markets countries. Gramercy employs an active management investment approach combining thematic top-down analysis with fundamental bottom-up research. The thematic top-down view is developed by a dedicated committee led by Mohamed A. El-Erian and Robert Koenigsberger, providing global macroeconomic insights. This is complemented by proprietary bottom-up research conducted by dedicated analysts who evaluate individual issuers through fundamental, relative valuation, technical, and ESG scoring methodologies. The fund integrates ESG risks into investment decisions and invests in diverse debt instruments including sovereign, quasi-sovereign, corporate bonds, convertible bonds, contingent convertible securities, and bank deposits.

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FUND PERFORMANCE AS OF 31st December 2025

ANNUALIZED SINCE INCEPTION QUARTERLY YTD
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