HEDGE FUNDS HAVE not, in aggregate, done well in emerging markets. When times are good they can make money trading in and out of positions, but when times are bad they can blow up spectacularly – the prime example being the Russian default in 1998.
Today, however, times are good, and the hedge funds are back in the emerging-market asset class with a vengeance. Volumes are reaching levels not seen since 1997, and a whole new asset class – credit derivatives – has given market participants the ability to make the kind of trades they could only have dreamt of a few years ago.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
