Emerging markets debt portfolios are gaining traction with US institutional investors, such as pensions, foundations and endowments, and some investment managers are taking steps to capitalise on that interest. The asset class, while less popular than some of its fixed income cousins, has quietly garnered positive inflows in 23 of the past 24 weeks, with nearly $5bn (£3bn, €3.4bn) moving into the space during that time, according to data from EPFR Global, a research company.

And the inflows seem to be picking up steam. Last month emerging market debt inflows reached their highest levels in half a year, at $550m and $700m for the third and fourth weeks of September respectively.