PineBridge launches Global Emerging Markets Corporate Bond fund

By Melissa Kory

Cleveland, Dec. 7 - PineBridge Investments said it launched its PineBridge Global Emerging Markets Corporate Bond fund on Dec. 2 with $25 million in capital.

The fund joins a range of strategies offered under the PineBridge Global name.

The PineBridge Global Emerging Markets Corporate Bond fund is managed by managing director Steve Cook. Cook has analyzed emerging market corporate credit since 1992 and joined PineBridge in 2007. He was previously an emerging market corporate strategist for Commerzbank AG.

The fund seeks long-term capital appreciation through investment in bonds primarily issued by corporate entities and financial institutions in emerging markets across Europe, Latin America, Asia, the Middle East and Africa.

The fund will be benchmarked to the J.P. Morgan CEMBI Broad Diversified index.

"With corporate bonds now constituting the majority of outstanding emerging markets external debt, it is important to conduct thorough research and understand the local markets," Cook said in a press release.

"PineBridge has been investing in emerging markets over the long-term, and with the benefit of embedded local teams in these markets, we believe investors will find the quality of our commitment to this asset class hugely attractive."

PineBridge Investments, headquartered in New York, manages assets for institutional and individual clients across a platform of listed equity, fixed income, private equity and hedge capabilities.

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