US bond boutique targets Asian investment

Brandywine is changing its investment guidelines to invest in Asian fixed income.

Brandywine Asset Management, a $4.2 billion boutique fixed-income manager based in Wilmington, Delaware, is revising its internal guidelines to allow it to invest in Asian fixed income.

A lot is going to happen in Asia over the next five to 10 years, says David Hoffman, managing director. The renminbi's appreciation will be a long-term trend. Look at when the yen was freed to trade in 1975, it rallied 350% against the dollar over the next 20 years. Japan had also been a low-cost country of cheap manufacturers that upgraded their quality, and China is on an ever faster track.

In addition to allocating investments to the region, Brandywine also sees business...

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