TCW Emerging Markets Local Currency Income Fd N Cl
TGWNX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 865 South Figueroa Street Los Angeles CA United States of America 90017
- IPO Date
- Dec 16, 2010
- CIK
- 0000892071
- Website
- tcw.com
- Similar Companies
- Business
- TCW Emerging Markets Local Currency Income Fund N Class (TGWNX) is an open-end mutual fund that seeks high total return from current income, foreign exchange gains, and capital appreciation through investments in debt securities denominated in local currencies of emerging market countries. The fund, managed by TCW Asset Management Company, invests at least 80% of its net assets in fixed income securities including government bonds, quasi-sovereign debt, and corporate bonds issued by governments, financial institutions, and non-financial companies in emerging markets; it may employ derivatives such as currency forwards and options for access and hedging, with primary exposures to sovereigns (primarily investment grade and high yield), quasi-sovereigns, corporates, and cash equivalents. Top holdings typically include Brazilian Real, Indonesian Rupiah, South African Rand, Mexican Peso, and Malaysian Ringgit-denominated instruments, alongside bonds from issuers such as Secretaria Do Tesouro Nacional (Brazil), Indonesia Republic, and India Republic; the portfolio emphasizes government debt (over 96%), non-US bonds (around 87%), and select regions in Latin America, Asia, and Africa. Launched on December 14, 2010, and domiciled in the United States, the fund is headquartered at TCW's principal office in Los Angeles, California, with total net assets of approximately $55 million for the N share class (minimum initial investment $2,000) as of late 2025; it targets institutional and retail investors seeking emerging markets local-currency bond exposure, categorized under Morningstar's Emerging-Markets Local-Currency Bond segment with a net expense ratio of 0.90% (capped through March 2025). The fund is managed by a seasoned team led by Penelope D. Foley (since inception), David I. Robbins (since inception), Alex Stanojevic (since 2017), and Jae Lee (since May 2024), who have refined the strategy to emphasize country allocation over relative value trading amid market volatility. Recent portfolio adjustments reflect strengthening U.S. dollar impacts and robust new issuance in emerging local currency debt, with YTD returns around 12-17% through late 2025; the broader TCW Group expanded its strategic partnership with Nippon Life Insurance Company, committing up to $3.25 billion in additional capital to support growth across funds including this strategy. Operations remain focused on liquid, accessible emerging market government bonds, excluding restricted markets like onshore China and India in benchmark comparisons.