
2026
- The fund seeks to generate stable income and returns with limited volatility by investing in a diversified selection of hard currency sovereign and corporate credits, targeting EM spread carry while limiting interest rate risk through a short duration focus.
- The team employs a combined top-down and bottom-up approach, where top-down country credit analysis determines overall risk allocation while bottom-up fundamental research, incorporating proprietary stress liquidity testing and internal credit ratings, drives individual security selection.
- The fund is benchmark agnostic, using the ICE BofA US 3-Month Treasury Bill Index as a comparator with an absolute return target of 3% above this index. Target duration is 2 years (±0.75 years), minimum average credit rating of BBB, and maximum 50% in high yield.
- The fund holds a broadly diversified portfolio across EM sovereign and corporate credits, spanning Latin America, the Middle East, Eastern Europe, and Asia, with exposure across investment grade and select high yield issuers.
- The team sees compelling EM yield levels and spread compression opportunities, while flagging elevated geopolitical risks and potential Fed hawkishness as key near-term headwinds.
Fund Investment Style


Source: Bloomberg Finance L.P., iFAST
Compilations
Monthly total returns including gross dividends in SGD terms as of 31 Mar 2026
|
Recommended fund |
3-year Annualised return |
3-year Maximum drawdown |
3-year Downside deviation |
3-year Risk-Return ratio |
|
6.4% |
-10.6% |
2.0% |
1.93 |
|
|
Peer Average |
7.0% |
-20.4% |
3.4% |
1.54 |
Source: Bloomberg Finance L.P., iFAST
Compilations
Monthly total returns including gross dividends in SGD terms as of 31 Mar 2026
About the Fund Managers
The Neuberger Short Duration Emerging Market Debt Fund is managed by a team led by Rob Drijkoningen, Gorky Urquieta, Bart van der Made, Jennifer Gorgoll, and Nish Popat, who have managed the fund since its inception on 31 October 2013. They are supported by Neuberger's broader Emerging Markets Debt team, a 37-person group spanning 14 portfolio managers, 10 analysts, 6 economists/strategists, 4 traders, and 3 portfolio specialists across The Hague, London, Singapore, Shanghai, and Atlanta. The team believes EM debt is an improving but inefficient asset class, and combines top-down macro analysis with bottom-up fundamental and ESG research, refined over its ~20-year pioneering history in the asset class, to identify the best risk-adjusted opportunities.

