"Wamco reveals its top bond tip
By Phil Davis
Published: February 6 2005 23:16 | Last updated: February 6 2005 23:16
Fixed income giant Western Asset Management Company says huge, unexploited opportunities in eastern Europe can provide the higher yields bond investors are desperately seeking.
In a rare glimpse into Wamco's strategic thinking, the secretive Californian bond specialist revealed the areas it believes will outperform over the next two years.
Wamco, which is owned by Legg Mason and is the world's biggest specialist bond manager after Pimco, said Turkey could be the star performer in investment grade fixed income, with Poland, Hungary and the Czech Republic close behind.
Mike Zelouf, director of international business at Wamco, which has $198bn in managed assets, said: 'Turkey was firmly in the emerging market camp until very recently, but its progress has been spectacular. "
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