New York
DURING the boom years, when China's demand seemed insatiable and commodity prices dependable, the emerging- markets team at Stone Harbor Investment Partners in New York visited its countries once or twice a year. In the past six months, it has made four trips to Brazil and, since January, toured Colombia, Mexico, Venezuela, Poland and Malaysia.
"We are in the part of the cycle when the economies slow down and administrations have to take tough measures," said Pablo Cisilino, who leads the group and helps manage about US$42 billion in developing-nation debt.
"Situations like that require being more on the ground, to be there to understand what's happening." Investors are looking at numerous...