Hello, I'm Ted Sides, and this is Capital Allocators.

This show is an open exploration of the people and process behind capital allocation.

Through conversations with leaders in the money game, we learn how these holders of the keys to the

kingdom allocate their time and their capital. You can join our mailing list and access premium

content at capital allocators.com. All opinions expressed by TED and podcast guests are

solely their own opinions and do not reflect the opinion of capital

allocators or their firms. This podcast is for informational purposes only and should not be relied

upon as a basis for investment decisions. Clients of capital allocators or podcast guests may

maintain positions and securities discussed on this podcast.

I guest on today's sponsored insight is Thomas Howgall, a portfolio manager on the emerging

markets debt hard currency team at Janice Henderson Investors, where he helps manage $1.3 billion

just one year into the team's tenure at JHA.

Thomas spent the last decade in the strategy with the same team, a prior decade in

emerging markets research, and a decade before that in academia studying emerging markets.

Our conversation covers Thomas's path to investing, the opportunity set, and misconceptions

of hard currency debt, and his team's approach to the sector.

This is our third sponsored insight from Janice Henderson, following conversations with

Daniel Gronia on Emerging Market Equities and Andy Acker on Biotech.

Those insights are replayed in the feed.

Before we get going, we're hosting our fifth cohort of Capital Allocators University in New York

City on February 22nd.

CAU is designed for allocators with five to 15 years of experience to connect with each other

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