US high-yield specialist eyes Asia

KDP Asset Management sees interest for its research and funds among Asian institutions.

KDP Asset Management, an American high-yield bond specialist based in Montpellier, Vermont, is making initial marketing and fact-finding investigations into Asia. One of its executives, Michael Penniman, has visited Hong Kong to gauge interest in selling its US dollar-denominated Defensive High Yield portfolios to Asian institutions.

The firm has provided independent high-yield research for over 25 years for a client base largely comprised of US defined benefit pension funds. Its 18 analysts cover over 400 high-yield issues and daily pricing on over 1,300 securities.

More recently it also launched an asset management business led by veteran investors Kathy News, with 25 years of experience, and Peter Merrill, with 19. It is...

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