Aberdeen Asset Management has been awarded a US$200m emerging markets (EM) corporate bond mandate by Danish pension fund, PKA. PKA is an administration company for five occupational pension funds encompassing healthcare, office and social workers with 250,000 members in aggregate and total assets under management of US$34.5bn.
“EM corporate bonds have come into their own as a stand-alone asset class,” said Brett Diment, head of EM bond and sovereign debt at Aberdeen.
“Furthermore the fundamental case for developing economies remains compelling. They are healthier and less leveraged than developed countries, as are the companies in them. Valuations, especially considering how strong emerging economies have been, are still attractive, with good opportunities in both investment grade and high yield.”
Data from S&P Global Market Intelligence suggest that the German lender is struggling to meet capital and earnings figures.
The T+2 Industry Steering Committee (T+2 ISC) has welcomed recent action by the Securities and Exchange Commission (SEC) to propose a rule ... read more
The proposals of both US presidential candidates could shake up operating conditions in several sectors, reports the credit ratings agency.
The Danish shipping and oil conglomerate confirmed that it will separate its businesses into stand-alone transport and energy divisions.