Investors Fleeing Junk See Less Risk in Emerging-Market Debt
- Deutsche Asset, Brandywine money managers making the switch
- Developing-nation funds get $55 billion of inflows this year
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Investors tired of the measly returns in junk bonds are shifting their money to emerging-market debt.
Funds are flowing into developing-nation assets as traders pulled cash from high-yield funds in recent weeks. Investors at Deutsche Asset Management and Brandywine Global Investment Management, who have more than $170 billion under management, say they are making the switch in pursuit of higher yields with less risk.