Virtus Stone Harbor Emerging Markets Debt Income Fund Q1 2026 Commentary
Virtus Investment Partners·2026-06-10·via All Articles on Seeking Alpha
Summary
Virtus Stone Harbor Emerging Markets Debt Income Fund (Class I) returned -0.93% in the first quarter versus the J.P. Morgan EMBI Global Diversified Index return of -1.26%.
In hard currency sovereign debt, a country overweight and issue selection in Venezuela were by far the largest positive contributors as well as underweights to Bahrain and the UAE and issuer selection in Ukraine and Panama.
For the quarter, there were only two countries that had a positive return in the investment grade segment.
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Market Review
Sector Review “Broad Market”
U.S. rates moved sharply higher and became more volatile in the first quarter as the escalation of the Iran conflict and resulting surge in energy prices drove markets to
