M&G's Claudia Calich has initiated a position in Argentine government bonds on the grounds the bonds have dropped to levels that "offer decent compensation for the risks".
Calich, manager of the £942m M&G Emerging Markets Bond fund, added a 1.5% position in local currency government bonds in Argentina in May having exited holdings in Q1, although she maintained other positions...
The US dollar is close to peaking and the risks now seem to be on the downside.
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