RT Journal Article SR Electronic T1 Emerging Market Bonds as an Asset Class JF The Journal of Investing FD Institutional Investor Journals SP 104 OP 110 DO 10.3905/joi.2007.694779 VO 16 IS 3 A1 Kevin C.H. Chiang A1 Craig H. Wisen A1 Thomas (Xiyu) Zhou YR 2007 UL https://pm-research.com/content/16/3/104.abstract AB Emerging market bonds improve the efficient frontier of a mixed-asset portfolio. The improvement is based on the application of mean-variance spanning tests on returns that are free from survivorship bias. The results indicate that emerging market bonds span a portfolio comprised of U.S. stocks, U.S. bonds, international equity, and international bonds from developed markets. Mean-variance optimizations suggest that a typical fund sponsor might consider overweighting its allocation towards emerging market bonds.TOPICS: Emerging markets, fixed income portfolio management, portfolio construction