JPM's Michele to double exposure to emerging market debt

J.P. Morgan Asset Management's Bob Michele intends to double his exposure to emerging market debt by the end of the year.

JPMAM’s global chief investment officer and manager of the £52.4m Strategic Bond fund expects to increase his existing 10% weighting to between 20%-25% as supplies of corporate debt improve. Michele has been a keen advocate of the asset class for some time and last year hired Pierre-Yves Bareau from Fortis as head of emerging market debt. The Strategic Bond fund currently holds sovereign debt from Indonesia, Korea, Mexico, Israel, Turkey and Egypt, but Michele says he will add corporate debt from Latin America and Asia as it becomes increasingly necessary to play the credit spread. ...