M&G emerging market bond manager Claudia Calich is holding a significant underweight position in Asia, on the view the region has the least compelling valuations globally.
Calich (pictured), who manages the £200m Emerging Markets Bond fund, has 18% invested in Asia in the portfolio, compared to the benchmark weighting of 28%. The only regions where the fund is overweight is Africa and the Middle East at 11.4% and 6.9% respectively. Calich said: "Valuations are least compelling in Asia, and you are not getting paid for the level of risk you are taking. I am very happy to only have a low exposure in Asia. "China is off the radar, it has stabilised in the short term but there are challenges in the long term and it will remain a problem for years to com...
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