The GEMLOC Program

"...The Global Bond Fund For Emerging Market Local Currencies Program -- is designed to move more institutional investment into local currency bond markets in developing countries. Making local currency bond markets deeper and stronger can lower the cost of borrowing, and a liquid corporate debt market can help firms better manage risk. Institutional investors, both domestic and international, could benefit from investing in a diversified portfolio of local emerging market bonds as they offer diversification with low correlations and potential returns from an improving credit environment and currency appreciation..."