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Fund manager promotes high-yield debt, currencies

February 06, 2010  

From Pamela Tang

Rajeev De Mello of Western Asset Management believes companies will take advantage of the fact that absolute yield levels in the high-yield debt market are very low. He also highlights opportunities with some Asian currencies.

As markets move away from the high levels of volatility seen in 2009, high-yield bonds and a number of Asian currencies offer opportunities, says a senior portfolio manager.

Last year’s volatility provided unprecedented challenges for investors, but it also offered...


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OFFSHORE RENMINBI DCM

Rank Bookrunner Value ($m) No. %Share
1 HSBC 2,717 31 19.6
2 Standard Chartered Bank 1,889 26 13.6
3 Bank of China Ltd 1,561 17 11.2
4 Deutsche Bank 893 13 6.4
5 Industrial & Commercial Bank of China - ICBC 827 12 6.0
6 Agricultural Bank of China Ltd 607 7 4.4
7 Goldman Sachs 570 8 4.1
8 Citi 569 8 4.1
9 China International Capital Corp Ltd 461 5 3.3
10 DBS 442 9 3.2
Subtotal 10,534 72 75.9
Total 13,886 81 100.0

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