Browse the world's most comprehensive database of hedge fund investor letters, sorted by recent quarter. Access primary source research from leading institutional managers.
Browse the world's most comprehensive archive of hedge fund manager letters. Access primary source research from leading institutional managers, sorted by reporting period.
TCW's EM Income Fund outperformed by 137bps in Q2 2026, driven by high yield selection and overweights in Ukraine, Egypt, and Argentina. The managers are constructive on EM debt given superior fundamentals versus Developed Markets, elevated real yields, and expected dollar weakness. They increased high yield exposure to +14.58% and added to Egypt, Indonesia, Mexico, and India while trimming Turkey and Colombia.
Full Quick Take
TCW's EM Income Fund outperformed by 137bps in Q2 2026, driven by high yield selection and overweights in Ukraine, Egypt, and Argentina. The managers are constructive on EM debt given superior fundamentals versus Developed Markets, elevated real yields, and expected dollar weakness. They increased high yield exposure to +14.58% and added to Egypt, Indonesia, Mexico, and India while trimming Turkey and Colombia.
MENA strategy targets three themes: Saudi capital market development through Tadawul Group as liquidity surges 68%, Qatar's dominant LNG position via QGTS benefiting from capacity expansion and lowest-cost production advantage, and tactical Egypt opportunity following currency devaluation and $35 billion Abu Dhabi deal creating potential USD-protected returns over 6-12 months.
Full Quick Take
MENA strategy targets three themes: Saudi capital market development through Tadawul Group as liquidity surges 68%, Qatar's dominant LNG position via QGTS benefiting from capacity expansion and lowest-cost production advantage, and tactical Egypt opportunity following currency devaluation and $35 billion Abu Dhabi deal creating potential USD-protected returns over 6-12 months.
