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Alternative Market Briefing

Asian high yield bonds remain a solid investment choice

Wednesday, August 29, 2012

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Steven Howell
Bailey McCann, Opalesque New York:

Steven Howell is the founder of HCAP Asset Management. He launched the firm in 2008, to leverage his 25 years of financial expertise with a focus on the Asian markets. He was recently interviewed by Sona Blessing for Opalesque Radio, where he discussed the continued investment opportunities in Asian high yield bonds.

Even though Asian high yield bonds have seen a somewhat lengthy rally of late, Howell says that a significant upside is still present for investors given the overall quality of the issuance's. "Opportunities to invest in Asian high yield bonds have actually been enhanced since 2008," he explains, noting that much of the issuance goes toward reinvestment.

The market itself seems to be drawing significant outside interest, according to a Reuters report, two of Canada's largest insurers - Sun Life Financial and Manulife Financial Corp. have recently noted their interest in this bond market. Manulife Asset Management oversees over $200bn in assets and is finding returns by looking outside of developed markets and into emerging spaces like Asia.

According to Howell, the Asian investment bond market is approximately $65bn in value, a number which increases to closer to $2tn if the Eurobond market is factore......................

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