RLAM's Hussain: Europe is becoming a richer hunting ground for high yield

Royal London Asset Management's Azhar Hussain has said that more opportunities in European high yield are now emerging, with macro events having little impact on yields.

Hussain said the investment case for Europe has improved of late, particularly for mid-grade bonds. The manager added that the macro uncertainty surrounding Greece had not dented his view. "Greece is a diversion; the markets have totally taken it in their stride." "I have always thought that Europe was a good place to invest but it has started to get richer. We have been buying single and double B grade bonds. Yields are so low that, combined with the interest rate impact, they make it pointless to invest in investment grade." Hussain has been particularly focused on consolidati...