Leading specialist emerging market fund manager Ashmore Investment Management believes that local-currency and high-yield corporate debt could be the prime way for investors to take advantage of US dollar weakness and sub-prime mortgage concerns in the coming year.
Speaking in the wake of landing a $125 million local-currency debt mandate from US pension fund manager the San Bernardino County Employees’ Retirement Association, Jerome Booth, head of research at Ashmore in London, says: “We are seeing substantial institutional investor interest in local-currency emerging market debt at present.
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