Emerging markets may be more risky than some expect

A leading UK debt fund has cast doubt over whether emerging markets are as safe a haven for ex-GM, ex-Ford high yield seekers as some might think. Susan Payne, chief executive officer at Emergent Asset Management, says the company is not convinced emerging market high yield debt will prove the haven for those who may decide to flee to quality from a downgraded GM and Ford. She notes Treasuries would be a more likely beneficiary of such investors - with high yield funds generally not restricted to just high yield debt - as moving to emerging markets assets before a potential second downgra...