TCW Emerging Markets Local Currency Income suffered several missteps in recent years that highlighted a need for more robust risk allocation and position-sizing processes. Rapid-fire changes to the investment approach have continued, though, such as de-emphasizing relative value trading to focus more on country-specific fundamental analysis. That pivot coincided with several key team departures in 2025, which have left the platform lighter on its historical areas of expertise, warranting downgrades to Average from Above Average for both People and Process.
TCW Emerging Markets Local Currency Income Fund Class I TGWIX
- NAV / 1-Day Return 7.81 / −0.76 %
- Total Assets 56.1M
-
Adj. Expense Ratio
0.850%
- Expense Ratio 0.850%
- Distribution Fee Level Average
- Share Class Type Institutional
- Category Emerging-Markets Local-Currency Bond
- Credit Quality / Interest Rate Sensitivity Medium/Moderate
- Min. Initial Investment 2,000
- Status Open
- TTM Yield 5.98%
- Effective Duration 5.44 years
USD | NAV as of Jun 09, 2026 | 1-Day Return as of Jun 09, 2026, 12:11 AM GMT+0
Morningstar’s Analysis TGWIX
Will TGWIX outperform in the future?
Get our overall rating based on a fundamental assessment of the pillars below.
People Pillar
The People Pillar is our evaluation of the TGWIX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar
The Parent Pillar is our rating of TGWIX’s parent organization’s priorities and whether they’re in line with investors’ interests.
- Current Portfolio Date
- Equity Holdings —
- Bond Holdings —
- Other Holdings —
- % Assets in Top 10 Holdings 38.0
|
Top 10 Holdings
|
% Portfolio Weight
|
Market Value USD
|
Sector
|
|---|---|---|---|
Secretaria Do Tesouro Nacional 0.1% | 8.14 | 5M | Government |
TCW Central Cash Cash Management | 4.33 | 2M | — |
Secretaria Do Tesouro Nacional 0.06% | 4.17 | 2M | Government |
Indonesia (Republic of) 0.065% | 4.15 | 2M | Government |
Turkey (Republic of) 0.3784% | 3.62 | 2M | Government |
Czech (Republic of) 0.035% | 3.50 | 2M | Government |
Mexico (United Mexican States) 0.085% | 3.46 | 2M | Government |
Egypt (Arab Republic of) 0% | 3.21 | 2M | Government |
Central Bank of Nigeria 0% | 2.47 | 1M | Government |
South Africa (Republic of) 0.0875% | 2.23 | 1M | Government |
United States