Local-currency EM debt is Ashmore’s pick for 2016

Emerging-market debt – especially in local currencies – has been out of favour in recent years but is starting to attract attention again, and for good reason, says Jan Dehn, head of research at UK fund manager Ashmore. He cites five arguments why he thinks local-currency EM bonds will be the best-performing asset class this year. The first is that yields are very high, after EM debt has been “beaten up” for several years. As a result, investors are being well paid for taking EM d…