US asset manager Neuberger Berman plans to launch a range of global emerging market and Asian bond strategies after hiring a new team from ING Investment Management.
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The second co-investment private equity fund by Neuberger Berman has closed above target at $1.1 billion, which includes allocations from Asian investors.
Five institutions are encouraged by underlying support for the global economy and see selective opportunities in equities and emerging markets in the Year of the Snake.
The US firm is intent on expanding its investment capabilities globally and sees Asian fixed income as a key plank in that strategy.
The region's long/short equity strategies had the highest market correlation, followed by event-driven and arbitrage, according to Eurkeahedge.
Even traditionally conservative Asian institutions are being drawn to non-investment grade US debt vehicles, notably high-yield bonds and CLOs, says Asia-Pacific head Nick Hoar.
The $720 million fund of private equity funds will lean towards mid-cap and special situation managers.
The employee-controlled firm will relocate Nick Hoar from London to Hong Kong this summer after the exit of Tony Edwards. Hoar plans to bulk up the regional distribution team.
The chairman and CEO of US asset manager Neuberger Berman sees opportunities arising from Basel III and the Volcker Rule and outlines his plans for Asia.
The inflows are linked to positive sentiment on China, strong Indian hedge-fund performance, increased fund-launch and corporate-deal activity, and renewed interest in Japanese funds.
The country's output may decrease to as low as 7.5% in the first quarter next year, but this is a more sustainable level of growth, say China observers.
Co-portfolio manager Tony Gleason outlines Asia opportunities for the new fund, which flags interest among US asset managers in setting up Ucits vehicles.