Asia hedge funds saw a remarkable rebound in 2024, with many funds posting biggest annual returns since the pandemic as China’s stock market recovered and Japan’s equities flourished. John Stover, Portfolio Manager of the Tribeca Asia Credit Fund, reported significant benefits from improving credit spreads and rating upgrades, particularly with companies like Vedanta and Rakuten regaining access to the bond market.
Stover noted that company buybacks and bond redemptions created event-driven trading opportunities, which were crucial in navigating the evolving market landscape. As new bond issuances rose with higher coupons, he anticipates a continued recovery in new bond sales across the region.
Looking ahead, Stover aims to focus his investments on India and Southeast Asia, foreseeing opportunities as geopolitical dynamics shift, particularly in light of the second Trump presidency. His insights underscore a strategic approach to capitalizing on the changing credit environment in Asia.
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Business Times Article
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