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BlackRock hands EMD chief new short duration fund

BlackRock hands EMD chief new short duration fund

BlackRock has bolstered its fixed income remit with the launch of a short duration emerging market debt fund, the company has announced.

The BlackRock Emerging Markets Short Duration Bond fund will be led by Citywire + rated Sergio Trigo Paz, with Michal Katrencik and Michal Wozniak as co-managers.

With interest rates rising, the asset manager said duration risk is becoming a greater consideration for investors in fixed income.

The combination of short duration bonds and emerging markets is set to provide investors with higher yields, while helping to provide some downside protection from steady interest rate increases.

Commenting on the launch, Trigo Paz, head of BlackRock's emerging markets fixed income team, said: 'Historically seen as an opportunistic asset class, emerging market debt is increasingly being used by investors as a long-term strategic allocation due to improving fundamentals and strong diversification benefits.

‘This fund is a great addition to the range we have built, to help investors achieve greater income potential and diversification from a higher-yielding asset class.’

This launch is the latest in a string of new products which aim to tap into the short duration market.

Fidelity recently revamped Rick Patel’s Global High-Grade Income fund, due to the increasing demand for short duration products, whilst AXA IM unveiled a global short duration bond back in September.

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