“This is the day we’ve been waiting for,” says Emil Nguy, managing partner at Hong Kong-based Asia bond house Income Partners. “The offshore RMB market is the first market with the potential to be big enough to rival the US.”
That matters to a firm like Income Partners, which Nguy helped to establish 17 years ago as a pioneer Asian fixed-income investor, both long-only and hedge. The firm’s size has always been restricted by the limited capacity in regional bond markets, both local- and foreign-currency. This is why it has never grown beyond $1 billion it stands at about $800 million in assets under management at present, and why it felt the...
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