Allianz GI's Riddell: Why I am favouring EMD and shunning gilts
Also cautious on high-yield and IG credit sectors
Mike Riddell of Allianz Global Investors
Holding a 20% weighting in unhedged local currency emerging market debt and moving underweight UK government bonds is how Allianz Global Investors' Mike Riddell is increasing the defensiveness of his £2.4bn Allianz Strategic Bond fund, even though he admits this might seem "counter intuitive".
Riddell, who has worked alongside now-co-manager Kacper Brzezniak on the fund since 2016, said the latest risk rally has made him more cautious on the high-yield and investment-grade credit sectors as...
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