Value Partners Credit Fund, whose 19 percent return last year beat Asian peers, has been betting on convertible and high-yield bonds in Indonesia, Malaysia and the Middle East, said senior fund manager Fawaz Habel.
Last year’s number brought the $55 million fund’s return since its July 2009 inception to 39 percent, according to fund documents. Eurekahedge Asia Fixed Income Hedge Fund Index advanced 14 percent last year and 27 percent since the hedge fund that bets on rising and falling prices of publicly traded bonds started trading with $10 million.
Bond prices have rallied since 2009 as investors demanded lower returns to hold risky debt. Credit hedge funds like Value Partners’ have been turning to what Habel termed “less followed, less understood” countries as the bargains in the more established markets thinned.
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