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Opalesque Exclusive: 3 Degrees launches credit opportunities fund investing in debt obligations of mispriced Asian companies
From the Opalesque Team: 3 Degrees Asset Management, a leading investment firm based in Singapore, announced that it is planning to launch ADF Prime Ltd, a credit opportunities fund that will invest primarily in the performing debt obligations of Asian companies that have been mispriced as a result of the Global Financial Crisis.
In Asia, debt prices have corrected far more sharply than in the US and Europe. This is driven by technical factors, as Asian investment banks unwind their portfolios, global hedge funds close their Asian operations, and capital is generally pulled from the region. On a fundamental basis, this is not justified. Asian credits are much stronger than they were ten years ago, at the start of the Asian Financial Crisis, and they are fundamentally more sound than their counterparts in the US and Europe. As such, the Investment Manager believes that this has created an unprecedented opportunity to acquire high quality assets at severely depressed prices.
ADF Prime will capitalize on the systemic inefficiencies endemic to Asian credit markets. Due to the limited number of players, and the highly relationship-driven nature of Asian markets, inefficiencies are being exaggerated by the global financial crisis. 3 Degrees views itself as a liquidity provider, not only seekin...................... To view our full article Click here
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