T. Rowe Price adds to emerging markets bond team

By Reshmi Basu

New York, April 19 - T. Rowe Price Associates said it has added two research associates to its emerging market team to strengthen its coverage of the asset class.

Michael Oh joins the firm from the U.S. Department of Treasury where he worked as an international economist in the office of international debt policy.

The firm also promoted Julie Salsbery to an analyst role. She has been at T. Rowe Price for eight years, working as an associate economist and as a trader in the municipal bond department.

"We see emerging markets as a long-term opportunity for any fixed-income investor, so we are beefing up our commitment to this area," said Mike Conelius, manager of the firm's emerging markets bond portfolios.

The firm said its emerging market debt assets have grown to $700 million from about $250 million in 2003.

The firm invests a significant portion of its money in smaller, emerging economies and invests in mostly dollar-denominated sovereign debt.

"In fixed income, emerging market has been the best performing asset class for the past five and 10 years, so that could be a cause of concern for investors, said Conelius, in a news release.

"But we are very optimistic on this asset class. The fundamentals are in a much better shape than they were a decade ago. So the fundamentals are better able to withstand volatility and still offer good returns to investors," he added.

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