While we at Williams Equity Research focus on primarily U.S. based individual securities for the bulk of our Institutional Income Plus portfolio, we conduct a meaningful amount of research and discussion on foreign markets as well. We personally hold an overweight position in emerging and developing markets relative to global indices. Today, we provide a glimpse into our thought process surrounding this type of investment opportunity including how to select the right vehicle to obtain exposure. This can be surprisingly difficult in some markets due to illiquidity, government interference and ownership in the broader