Debt managers raise Asia exposure, but flag risks

Fund houses are raising exposure to riskier fixed income assets to boost returns on the back of moves by Europe, the US and Japan to stimulate their economies. But despite their general bullishness on Asian debt, they also sounded notes of caution. Both Aviva Investors and Schroder Investment Management confirm they have been allocating more to emerging market debt, both corporate and sovereign, and have been investing in lower-rated bonds in order to obtain more yield. Executiv…