Bondholder activism

Fidelity urges investors to keep bond covenants in place

Fidelity is pushing for greater bondholder activism in Asia to help drive a better deal for high-yield investors.
<div style="text-align: left;"> Time to take to the streets? Asian bond investors lack the cohesion to make their voices heard, complains Fidelity (AFP) </div>
<div style="text-align: left;"> Time to take to the streets? Asian bond investors lack the cohesion to make their voices heard, complains Fidelity (AFP) </div>
December 19, 2011

Earlier this month, US fund manager Fidelity took the somewhat unusual step of organising a lunch briefing at its office in Hong Kong to educate the media on bond covenants. The fund manager was irked by covenant changes made by Asian high-yield borrowers recently and wanted to drum up support for its cause.

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