EMD stars clash on Hungarian government bonds

Investment management firms' EMD heads at odds after country sees bonds downgraded to junk status.

The heads of emerging market debt at Investec and Aberdeen are at odds on Hungarian government debt after the country saw its bonds downgraded to junk status last week.  Investec’s Peter Eerdmans is poised to up his stake in the bonds on IMF intervention, while Aberdeen’s Brett Diment has sold out of the asset class as the troubled Eastern European country turns to international bodies for support. Last week the Hungarian government requested financial aid from the IMF and the EU on growing debt and weakening currency fears. Moody’s downgraded Hungary’s debt one notch to junk statu...