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Tune in to the InsuranceAUM.com Podcast, hosted by our Managing Partner, Stewart Foley, CFA. Our podcast features insightful conversations with CIOs, asset managers, and other distinguished professionals in the insurance asset management industry. Each episode delves into the latest trends, challenges, and opportunities, providing listeners with valuable perspectives and practical advice. Don’t miss out on these engaging discussions that are essential for insurance investors and asset managers.
Episodes
Tuesday Feb 28, 2023
Tuesday Feb 28, 2023
In this episode of the InsuranceAUM.com podcast, Stewart Foley speaks with Tom Smith, Emerging Market Portfolio Manager at MetLife Investment Management, to explore current dynamics and future opportunities within emerging market debt (EMD). Tom shares his experienced perspective on the macroeconomic factors impacting EM debt, including the aftereffects of the pandemic, inflationary pressures, China’s reopening, and the ongoing conflict in Ukraine. Despite recent volatility, Tom explains that easing pressures could create a more favorable environment for EMD in 2023, with stronger fundamentals seen in emerging market corporate and sovereign debt.
Tom also discusses why EM corporates stand out with strong balance sheets and lower leverage than their U.S. peers, making them attractive for insurance investors focused on capital preservation. He provides insights into the stabilizing trends in sovereign debt and the potential for spread compression if macro conditions continue to improve. Tom emphasizes the need for a careful, selective approach, highlighting the resilience of certain EM credits and noting that MetLife Investment Management prioritizes capital preservation in their EM strategies.