Morgan Stanley Favors These Asian Bonds
- Global economy to `trudge along,' says global debt CIO Kushma
- `We've been taking quality up in China,' says fund manager Mar
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Morgan Stanley Investment Management is favoring bonds of India, Indonesia and the Philippines in Asia, after taking advantage of January’s rout to boost emerging-market holdings.
"We have been rotating to emerging markets in the first quarter, first from a valuation perspective as things just got so beaten up," Mike Kushma, Chief Investment Officer, Global Fixed Income, at the company, which oversees about $406 billion in assets, said in an interview in Hong Kong last week. Warren Mar, Portfolio Manager, Emerging Markets Corporate Debt, said he likes telecommunications companies and blue chips in India, Indonesian developers and utilities, conglomerates and utilities in the Philippines.