Hedge funds, urged by banks to buy big into EM debt ahead of Japanese institutions, were left high and dry, says the UK fund house's co-head of research.
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The UK asset manager has hired 11 staff locally, but admits it will take time to build a track record and brand in what is an embryonic funds market.
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But this approach by developed-country governments is allowing emerging-market banks to take the lead in servicing investors in their local debt markets, argues Jan Dehn.
