The TCW Emerging Markets Income Fund is managed by a highly experienced team led by David I. Robbins (Group Managing Director, 42 years experience, managing since December 17, 2009), Christopher Hays (Managing Director, 16 years experience, joined May 1, 2024), Jae H. Lee (Managing Director, 25 years experience, joined May 1, 2024), and Penelope D. Foley (Lead Portfolio Manager until December 2025, 14 years experience). The fund operates under The TCW Group, Inc., with Bryan T. Whalen, CFA serving as Chief Investment Officer and Head of Fixed Income, overseeing over $170 billion in fixed income assets. Katie Koch serves as President and Chief Executive Officer, bringing 24 years of industry experience after joining TCW in 2023 from Goldman Sachs Asset Management where she managed $300 billion in public equity business as Partner and CIO. The fund was launched on May 29, 1998 and represents one of the longest-tenured emerging markets debt teams in the industry. TCW Group manages approximately $200 billion in total client assets and is headquartered in Los Angeles, with ownership interests held by TCW management, The Carlyle Group, and Nippon Life Insurance Company. The management team's extensive experience spans multiple market cycles and emphasizes fundamental research and high-conviction investing approaches.

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The Fund's investment objective is to seek high total return from current income and capital appreciation. The Fund invests primarily in debt securities issued or guaranteed by companies, financial institutions and government entities in emerging market countries. Under normal circumstances, the fund invests at least 80% of the value of its net assets in debt securities issued or guaranteed by entities in Emerging Market Countries. The investment process is fundamentals and valuations-based, with an emphasis on capturing inflection points in sovereigns and focusing on corporates with deleveraging potential. The Fund is managed by one of the longest-tenured emerging markets debt teams in the industry focusing on fundamental research and high-conviction investing. The integrated top-down and bottom-up investment process emphasizes global and multi-sector diversification to generate attractive risk-adjusted returns from income and capital appreciation. The Fund employs a value-oriented investment approach combining top-down and bottom-up processes, emphasizing global and multi-sector diversification to optimize risk-adjusted returns. The experienced team leverages extensive credit research and market analysis to dynamically adjust portfolio allocations among sovereign debt, corporate debt (15-35% of the portfolio), and local currency debt (0-30%) based on relative value shifts within emerging markets. The fund exclusively invests in hard currency-denominated securities and maintains a diversified credit quality distribution ranging from AA to D-rated instruments. The Investment Team has an average of over 38 years of experience in emerging markets investing, through both up and down markets.

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