Does value exist in HY/EMD?

Kevin Colglazier, CIO, heads up a boutique team of high-yield and emerging-market debt managers at the asset management arm of South AfricaÆs Standard Bank in London. The team manages $1.3 billion of assets.Why combine high yield and emerging markets, versus other asset classes?They have a low correlation, their yield characteristics are similar and having both capabilities provides synergy among dedicated analysts. High yield analysts tend to have sharper credit skills, and they can …