U.S. investment manager, TCW Group, has launched a new emerging market local currency fund. The TCW Emerging Markets Local Currency Income Fund expands the firm’s range of emerging markets strategies focused on fixed income securities.The portfolio invests majorly in emerging markets sovereign and corporate bonds denominated in local currencies and is expected to own bonds across 10-25 emerging markets countries. Dave Robbins and Penny Foley, who also manage the $1.5 billion TCW Emerging Markets Income Fund, will run the new vehicle.

Click here for the release from TCW.