PineBridge Shuns India Sovereign Bonds on Investing Challenges

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PineBridge Investments is sticking to its stance of avoiding Indian sovereign bonds, which have turned into a favorite pick among global investors this year, amid bureaucratic challenges of investing locally and a preference for higher carry in Latin America.

“We have to weigh the settlement risk with market risk and for the moment, I have more settlement risk than market risk,” said Anders Faergemann, a senior portfolio manager in London, referring to the risk of a short window for settling bond trades against the risk of missing out on being invested in India.

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