Asia’s equity-linked market has never been a high-profile asset class, with investment concentrated among a handful of convertible bond funds. Investors had been paying even less attention in recent years as issue and redemption volume shrank.
Yet anyone who has invested in the asset class since 2015 will find themselves firmly in the black. For the most part, that reflects the outperformance of Asia’s stock markets against those elsewhere in the world.
What’s more, if the stock market maintains its strength, the equity-linked market could actually emerge as a particularly attractive asset class for investors, serving as a derisking and hedging tool against the soaring market.
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