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TT International Launches New Emerging Market Debt Strategies

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Emerging Market Debt
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Two distinct active EMD strategies unveiled

9th December 2024, New York: TT International (“TT”), the alpha-driven specialist investment manager, is delighted to announce the launch of two new Emerging Market Debt (“EM Debt”) strategies. They are managed by a talented, close-knit team led by Jean-Charles (“JC”) Sambor, using the same active, nimble and contrarian process that the team has successfully employed to generate outperformance for clients over the last 8 years.

These distinct EM Debt offerings are designed to provide solutions to different client requirements. They comprise the TT EM Debt Strategy, a long-biased “go-anywhere” offering with a blended benchmark (50% J.P. Morgan EMBI Global Diversified Index/50% J.P. Morgan Government Bond–Emerging Market Index), and the TT EM Hard Currency Debt Strategy (J.P. Morgan EMBI Global Diversified Index). TT will also launch a hedge fund (no benchmark, 10%+ targeted returns) in early 2025. The strategies are focused on producing alpha with a low correlation to risk assets. All have significant overlaps in their universes and apply innovative research techniques that go beyond standard fundamental analysis to generate differentiated alpha. The team targets mispricing opportunities across four sub-asset classes: sovereign credit; corporate credit; FX; and rates. They employ a high-conviction, contrarian, non-regional, benchmark-aware approach that separates alpha from beta. Further information about the strategies can be found on TT’s website:

TT EM Debt Strategy

TT EM Hard Currency Debt Strategy

Eric Mackay, Managing Director, TT International, said: “TT has 36 years’ experience in global macro investing, and began managing its first standalone Emerging Markets Equity product in 2011. Thus, the launch of a comprehensive suite of EM Debt strategies is a natural, and timely, extension of TT’s well-defined EM DNA. I am confident that JC and his team can capitalise on the deep synergies between our EM Equity and Debt franchises, and we look forward to offering clients these market-leading EM Debt strategies via the newly launched funds. With support from our strong parent, SMFG, we aim to leverage one of the world’s largest EM footprints to thrive against a backdrop where many peers have suffered from outflows, a lack of differentiated process, and underperformance.”

Jean-Charles Sambor, Head of Emerging Markets Debt, TT International, said: “TT’s strong heritage in successfully managing multiple EM and Macro strategies, combined with its agility as a boutique firm, provides a powerful launchpad for our dedicated EM Debt offerings. The traditional concepts of “happy” globalisation and emerging markets converging with developed ones are outdated and need to be disrupted. In many cases, emerging markets now exhibit stronger fundamentals than their developed market counterparts. We have a contrarian DNA, focusing on market ‘blind spots’ and overlooked scenarios that are prevalent across EM Debt markets. Our approach further differentiates us by separating alpha from beta. We believe that the new geopolitical landscape will be characterised by heightened volatility, creating even more opportunities for nimble and active managers, that we look forward to exploiting.”


About TT International 

TT International (“TT”) is an alpha-driven specialist investment manager with over 35 years’ experience investing for a globally diverse and sophisticated institutional client base.

TT is proud to have built a performance-driven and collaborative culture across the entire business, attracting and retaining world-class investment professionals.

Headquartered in London, with offices in Hong Kong, New York and Tokyo, TT offers a suite of long-only and alternative high conviction strategies designed to meet clients’ evolving investment needs and objectives.

With investment strategies focussed on areas where TT possesses genuine competitive advantages and where persistent market inefficiencies enable active managers to succeed, TT is dedicated to generating superior investment returns for clients, with a commitment to responsible investing.


About SMFG

SMFG is one of the world’s largest financial institutions, with consolidated total assets of over 2 trillion USD as of September 30, 2024. It offers a wide range of financial services, including commercial banking, leasing, securities, credit cards, consumer finance and asset management.