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.
Tag : ashmore
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.
Ashmore and BNP Paribas Investment Partners are both understood to be exploring the sale of dedicated Asian credit products.
The emerging markets fund specialist has traditionally focused on institutional business, but is widening its distribution scope in Asia.
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The UK asset manager has hired Kon Chee-Keat in Singapore. He came from Lion Global Investors, where he has been replaced by a former Deutsche AM veteran.
The emerging-markets investment firm argues that global investors should completely avoid the developed world.
