The Emerging Markets Podcast by Tellimer

Tellimer’s founder and CEO, Duncan Wales sits down with Nick Rohatyn, CEO of The Rohatyn Group. Prior to founding TRG in 2002, Nick spent 19-years at J.P. Morgan, including 5 years as a member of J.P. Morgan’s executive management team, holding a variety of leadership positions in emerging markets, foreign exchange, commodities, and more. Nick is also a founder and the former chairman of the Emerging Markets Traders Association - a key leader and innovator in the space. Together, Duncan and Nick consider how all key investment themes can be accessed through emerging markets; most importantly interest rates, geopolitical tensions, and climate change. They also touch on private credit from the perspective of a fund manager, currency risk, the role of China, upcoming US elections, and the most critical developments in the asset class. You can find out more about Nick Rohatyn and The Rohatyn Group here. The Emerging Markets Podcast by ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ – the single point of entry to EM research and data. Edited and produced by ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ella Ryan⁠⁠.⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Artwork by Kristian Klamar. To receive the Tellimer Today daily newsletter and access one free article a month for just 50$ a month, sign up ⁠⁠⁠⁠here⁠⁠⁠⁠. The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. DISCLAIMER This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Limited does not offer or provide personal advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person.

Hasnain Malik, Emerging and Frontier Markets Strategy at Tellimer, hosts this episode of the Emerging Markets Podcast and sits down with Asha Mehta, Managing Partner & CIO at Global Delta Capital. Together, they take a tour through emerging markets, from China, India, Saudi, to the smaller frontiers, and a look ahead at the impact of the US election, as well as discuss Asha's book, Power of Capital: An Adventure Capitalist’s Journey to a Sustainable Future (2022), which is replete with arguments and anecdotes uncovered over a career of analysis of and travel in the emerging markets. The Emerging Markets Podcast by ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ – the single point of entry to EM research and data. Edited and produced by ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ella Ryan⁠⁠.⁠⁠⁠⁠⁠⁠⁠⁠⁠ Artwork by Kristian Klamar. DISCLAIMERS The views and opinions expressed in this discussion are that of Asha Mehta’s only, for informational purposes, and should not be relied upon as investment advice or be used as a basis for making any investment decisions. This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Limited does not offer or provide personal advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person.

Tellimer’s founder and CEO, Duncan Wales discusses the Hashemite Kingdom of Jordan with capital markets veteran, advisor, investment banker and markets regulator Majd Shafiq. Duncan and Majd consider the equity market, sovereign Eurobonds and the opportunities for investment into the country. Despite its challenging location and the war in Gaza, Jordan maintains surprisingly good relations with its regional neighbours as well as the US and is adept at staying friends with countries that are often not always friends with each other. Jordan has a strong minerals sector, an educated workforce, a garments manufacturing base and a critical role in regional diplomacy and security. The Emerging Markets Podcast by ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ – the single point of entry to EM research and data. Edited and produced by ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Ella Ryan⁠⁠.⁠⁠⁠⁠⁠⁠⁠⁠ Artwork by Kristian Klamar. To receive the Tellimer Today daily newsletter and access one free article a month for just 50$ a month, sign up ⁠⁠⁠here⁠⁠⁠. The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. DISCLAIMER This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Limited does not offer or provide personal advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person.

This podcast was recorded on the 8 Feburary 2024, at 15:00 UK before any official results had been announced. *CORRECTION: Pakistan 31s trade at 68 cash px, not 61, as Riz incorrectly referenced in the podcast. For this special flash podcast, Riz (Head of Sales) and Musti (Team Lead - Institutional Sales), sit down for an off the cuff conversation amid the ongoing elections in Pakistan. They provide on the ground insights from family and friends in Pakistan; Musti sheds light on the ballot casting process, the likely composition of the next administration, the influence of the army over politics, and economics. Rizwan delves into Pakistan’s hard currency bonds, discussing historical performance and providing his views on how they will trade in the coming days as the political parties seek to form a new government. This episode is an informal, anecdotal conversation and the speakers are not regulated investment advisors, and they reference a published report on Tellimer by Patrick Curran. For more emerging and frontier market content, make sure to follow The Emerging Markets Podcast by ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Tellimer⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ – the single point of entry to EM research and data. Edited and produced by ⁠⁠⁠⁠⁠⁠⁠⁠⁠Ella Ryan⁠⁠.⁠⁠⁠⁠⁠⁠⁠ Artwork by Kristian Klamar. To receive the Tellimer Today daily newsletter and access one free article a month for just 50$ a month, sign up ⁠⁠here⁠⁠. The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Limited does not offer or provide personal advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person.

Joe Delvaux, Senior Portfolio Manager of Amundi, and Chief Economist Stuart Culverhouse discuss sovereign default cases in Zambia, Ghana, and Sri Lanka. They explore paths to sustainable debt, China's role in restructuring, lessons from the Common Framework, ongoing bondholder negotiations, and more.

For this episode, Tellimer's Senior Economist Patrick Curran sits down with Mitu and Mark – professors of law at the University of Virginia and University of North Carolina and hosts of the Clauses and Controversies podcast – to discuss recent developments in the sovereign debt restructuring landscape. Mitu and Mark share their insights on Zambia's comparability of treatment fiasco, ongoing suits in Sri Lanka and Venezuela, and a potentially dodgy aspect of the Tierra Del Fuego exchange offer. For more emerging and frontier market content, make sure to follow The Emerging Markets Podcast by ⁠⁠⁠⁠⁠⁠⁠⁠Tellimer⁠⁠⁠⁠⁠⁠⁠⁠ – the single point of entry to EM research and data. Edited and produced by ⁠⁠⁠⁠⁠⁠⁠Ella Ryan⁠⁠.⁠⁠⁠⁠⁠ Artwork by Kristian Klamar. The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Limited does not offer or provide personal advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person.

For our first episode of 2024, Hasnain Malik, Strategy & Head of Equity Research at Tellimer, is joined by Dominic Bokor-Ingram from Fiera Capital. Together they discuss the often-misunderstood opportunity in emerging markets. They delve into how the asset class has evolved, FX risks, countries to avoid, touch on markets such as Malaysia, Mexico, India, South Africa, and much more. For more emerging and frontier market content, make sure to follow The Emerging Markets Podcast by ⁠⁠⁠⁠⁠⁠⁠Tellimer⁠⁠⁠⁠⁠⁠⁠ - the single point of entry to EM research and data. Edited and produced by ⁠⁠⁠⁠⁠⁠Ella Ryan⁠⁠.⁠⁠⁠⁠ Artwork by Kristian Klamar. The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Limited does not offer or provide personal advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person.

For the final episode of The Emerging Markets Podcast for 2023, host Rizwan Mahmood and Carlos de Sousa of Vontobel Asset Management recap on the year for emerging market debt, and discuss their outlook for 2024. Together, they delve into markets on the minds of investors, including Argentina, Pakistan and Egypt. Also, they discuss the potential implications of upcoming elections, risks ahead, IMF programmes, and more. A huge thank you to all the guests who sat down to talk with us this year, and to all our listeners for joining! Stay tuned for more episodes in 2024. For more emerging and frontier market content, make sure to follow The Emerging Markets Podcast by ⁠⁠⁠⁠⁠⁠Tellimer⁠⁠⁠⁠⁠⁠ - the single point of entry to EM research and data. Edited and produced by ⁠⁠⁠⁠⁠Ella Ryan⁠⁠.⁠⁠⁠ Artwork by Kristian Klamar. The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Limited does not offer or provide personal advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person.

Hasnain Malik, Emerging and Frontier Markets Strategy at Tellimer, hosts this episode and sits down with Charlie Robertson, Head of Macro and Strategy at FIM Partners. Together, they discuss Charlie's book, The Time Travelling Economist (2022), which explores the key issues that countries in Africa and South Asia need to address in order to escape poverty. They take a look at how fertility, electricity, textiles, and more, impact development in any underdeveloped emerging or frontier market. For more emerging and frontier market content, make sure to follow The Emerging Markets Podcast by ⁠⁠⁠⁠⁠Tellimer⁠⁠⁠⁠⁠, the single point of entry to EM/FM research and data. Edited and produced by ⁠⁠⁠⁠Ella Ryan⁠⁠.⁠⁠ Artwork by Kristian Klamar. The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Limited does not offer or provide personal advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person.

Join us for a special episode with Paul Domjan, Enoda Founder and Chief Policy and Global Affairs Officer, hosted by Tellimer CEO and co-founder Duncan Wales. Together, they discuss the lessons that emerging market energy transition has for the developed markets, the technical and policy challenges for emerging markets, and a look forward to the COP28 climate conference in Dubai. For more emerging and frontier market content, make sure to follow The Emerging Markets Podcast by ⁠⁠⁠⁠Tellimer⁠⁠⁠⁠, the single point of entry to EM/FM research and data. Edited and produced by ⁠⁠⁠Ella Ryan⁠⁠.⁠ Artwork by Kristian Klamar. The Emerging Markets Podcast dives into a range of topics in the emerging and frontier market world including investment themes, debt restructuring, elections, and geopolitical tensions. This podcast is provided for information purposes and represents the personal opinions of the speakers. It is not an offer or solicitation for investment in any securities, nor should it be regarded as investment advice. Tellimer Limited does not offer or provide personal advice and no mention of a particular security in this podcast constitutes a recommendation to buy, sell or hold that or any security, portfolio of securities, or enter any transaction or investment strategy. Nor is any such mention an indication that any investment is suitable for any specific person.