Morgan Asset Management is betting on developing markets, from Latin America to Eastern Europe, as signs of cooling in the world's largest economies force investors to look beyond the US. Bob Michele, the firm's global head of fixed income, said the $3.5 billion global bond opportunity fund had “slightly above average” exposure to emerging markets and could be higher. He said that external and local emerging market bonds and currencies are “all treasures” and can bring double-digit returns this year.

Morgan Asset Management is betting on developing markets, from Latin America to Eastern Europe, as signs of cooling in the world's largest economies force investors to look beyond the US. Bob Michele, the firm's global head of fixed income, said the $3.5 billion global bond opportunity fund had “slightly above average” exposure to emerging markets and could be higher. He said that external and local emerging market bonds and currencies are “all treasures” and can bring double-digit returns this year.