Emerging market debt specialists were far from immune in May, with nearly all funds in the sector ending the month in the red.
The Emerging Income Fund was worst hit, losing 14.79%. Other poor performers included Denholm Hall Russia Arbitrage (-7.40%), Finisterre Sovereign Debt (-5.22%), Spinnaker Global Opportunity (-4.74%), Pharo Gaia (-3.77%), and UFG Russia Debt (-3.52%).
Finisterre Credit lost 3.22%, Adelante Emerging Debt was down 3.01%, Alcantara Emerging Markets Debt dropped 1.90% and GAM Emerging Markets Rates was down 1.67%. UFG Credit Opportunities lost 1.43%, while BlueBay Emerging Market Fixed Income Opportunity was off by 0.91%.