Aberdeen Wins US$200m EM Corporate Bond Contract in Denmark
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.”
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