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...
