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Disclaimer

BY CLICKING ON “I AGREE”, I DECLARE I AM A WHOLESALE CLIENT AS DEFINED IN THE CORPORATIONS ACT 2001.

What is a Wholesale Client?
A person or entity is a “wholesale client” if they satisfy the requirements of section 761G of the Corporations Act.
This commonly includes a person or entity:

  • who holds an Australian Financial Services License

  • who has or controls at least $10 million (and may include funds held by an associate or under a trust that the person manages)

  • that is a body regulated by APRA other than a trustee of:
    (i) a superannuation fund;
    (ii) an approved deposit fund;
    (iii) a pooled superannuation trust; or
    (iv) a public sector superannuation scheme.
    within the meaning of the Superannuation Industry (Supervision) Act 1993

  • that is a body registered under the Financial Corporations Act 1974.

  • that is a trustee of:
    (i) a superannuation fund; or
    (ii) an approved deposit fund; or
    (iii) a pooled superannuation trust; or
    (iv) a public sector superannuation scheme
    within the meaning of the Superannuation Industry (Supervision) Act 1993 and the fund, trust or scheme has net assets of at least $10 million.

  • that is a listed entity or a related body corporate of a listed entity

  • that is an exempt public authority

  • that is a body corporate, or an unincorporated body, that:
    (i) carries on a business of investment in financial products, interests in land or other investments; and
    (ii) for those purposes, invests funds received (directly or indirectly) following an offer or invitation to the public, within the meaning of section 82 of the Corporations Act 2001, the terms of which provided for the funds subscribed to be invested for those purposes.

  • that is a foreign entity which, if established or incorporated in Australia, would be covered by one of the preceding paragraphs.


I Disagree

Fixed income

Emerging market debt (EMD)

An emerging market bond is a fixed income debt issued by countries with developing economies as well as by corporations within those nations.


EMD provides financing for emerging economies and offers diversification benefits to investors, as these markets may perform differently from developed markets. EMD includes both sovereign and corporate debt and can be issued in either local or hard currencies (like the US dollar). Investors are attracted to EMD for its potential for high returns, but they must also consider risks like currency volatility, political instability, and credit risk. Popular among income-seeking and growth-oriented investors, EMD plays a valuable role in diversified, global portfolios.

Timeline of emerging market debt

  • Early 20th century: Emerging economies issue bonds intermittently, with limited investor confidence.

  • 1980s: US Treasury Secretary Nicholas Brady introduces ‘Brady bonds’ to help restructure debt in developing countries, especially in Latin America. Bonds are mostly issued in US dollars.

  • 1990s: Growth in Brady bond issuance leads to increased interest in emerging market debt as an asset class.

  • 2000s: Emerging markets mature and stabilize, issuing bonds more frequently in both US dollars and local currencies (local market bonds). Foreign corporations also begin issuing bonds, expanding global credit options.

  • 2000s–2010s: Developing countries implement cohesive fiscal and monetary policies, boosting investor confidence and solidifying emerging market debt as a significant asset class in fixed income.


See also

Government bonds
Corporate bonds


A long history of innovation

Robeco

Robeco aims to enable its clients to achieve their financial and sustainability goals by providing superior investment returns and solutions.

Important information: This website is prepared and issued in Australia by Robeco Hong Kong Limited (ARBN 156 512 659) (‘Robeco’) which is exempt from the requirement to hold an Australian financial services licence under the Corporations Act 2001 (Cth) pursuant to ASIC Class Order 03/1103. Robeco is regulated by the Securities and Futures Commission under the laws of Hong Kong and those laws may differ from Australian laws. The information on this web page is provided to you because Robeco reasonably believes that you are a "wholesale client" within the meaning of that term under section 761G(4) of the Corporations Act 2001 (Cth) ("Corporations Act") and not any other class of persons. This information is not an advertisement and is not intended to induce retail clients to acquire Robeco products. Retail clients who are interested in Robeco products should contact their financial adviser.