London
TUMBLING bond prices are doing little to dull the clamour for emerging market bonds among global investors.
Amundi Asset Management and Carmignac Gestion, together overseeing US$32 billion in funds with remits to invest anywhere in the world, have been adding developing nation notes to their portfolios since the sell-off started on Sept 8. AllianceBernstein LP, which has increased allocations to 12 per cent from 7 per cent in its US$5.7 billion fund since March, is keen to buy more if prices fall further from six-week lows.
This month's rout pushed average yields on emerging market bonds to 4.4 per cent, the cheapest relative to more advanced peers since early August, according to a Bloomberg...
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