IN the corporate-bond market, even a few billion doesn't get you a seat at the table. And Najib Nakad is so tired of settling for the scraps left by giants, he hardly bothers to bid for new issues anymore. "We are too small to have any hope of an allocation," said Mr Nakad, who helps oversee about 2 billion euros (S$3.2 billion) as chief portfolio manager at Hof Hoorneman Bankiers in the picturesque Dutch town of Gouda. "It just goes to the big guys." Investors like Mr Nakad, 52, who have complained for decades about going up against the bankers that put bond deals together may finally be getting some relief.
Digital disruption, which has changed the face of trading equities, currencies and some...
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