Investor Who Called End of Emerging Bond Rally Now Sees Rebound
- Finisterre’s Buchet sees revival taking place before year-end
- Company has rebuilt risk across all asset classes in Mexico
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Just as emerging markets were starting to top out in late January, Damien Buchet correctly called time on the rally. Now, the chief investment officer for total return strategy at Finisterre Capital says a rebound is coming before the end of the year.
Buchet has spent this month rebuilding risk in his portfolios, cutting cash to slightly below 20 percent from 31 to 32 percent at the end of August. He said he’s been buying all asset classes in Mexico, as well as Ukrainian notes and GDP-linked warrants, and has even bought short-maturity paper in Argentina and raised exposure to Turkey.