Man GLG's Scott: Recessionary concerns may be premature

Manager turns to global services sector for better returns

Levels of dispersion witnessed in the high-yield market over the past nine to 12 months have never been so wide outside a recessionary period, according to Man GLG's Mike Scott.

While the world readies itself for further downturn, Scott - who runs the Man GLG High Yield Opportunities strategy, comprising a Dublin-domiciled UCITS fund and UK-domiciled OEIC - believes recessionary concerns may be premature.   Man GLG launches high yield fund for ex-Schroders manager Scott "The market has got a bit ahead of itself with regard to all the doom and gloom," he said, explaining the "indiscriminate widening of spreads between the mid and lower echelons of the high-yield credit sector" are throwing up value opportunities.  Against that dispersion, Scott has been tak...