In the middle of a credit crisis, it is somewhat ironic that Ashmore Investment Management has announced a new emerging markets high-yield corporate fund and Credit Suisse has created a new index for such securities.
In previous financial crises there’s little chance that investors would have even considered buying emerging markets debt, never mind paper issued by non-investment-grade corporates. These two breakthrough launches are another indication of the growing maturity and sophistication of emerging market debt.
The initiatives from Ashmore and Credit...
