Aberdeen gets $200m Danish EMD pension mandate
Aberdeen Asset Management has been awarded a $200m emerging markets corporate bond mandate by Danish pension funds administrator PKA.
PKA administers five occupational pension funds for healthcare, office and social workers, with 250,000 members and assets under management of $34.5bn.
Brett Diment, head of Emerging Markets Bond & Sovereign Debt at Aberdeen, said: “Emerging market corporate bonds have come into their own as a stand-alone asset class. Furthermore, the fundamental case for developing economies remains compelling. They are healthier and less leveraged than developed countries, as are the companies in them. Valuations, especially considering how strong emerging economies have been, are still attractive, with good opportunities in both investment grade and high yield.”
Aberdeen estimates that the emerging market corporate bond market is over $1trn in size, accounting for abou8t 20% of the global corporate bond market.