(Bloomberg) When it comes to emerging-market sovereign debt, Man Group Plc is going local.
The world’s largest publicly traded hedge fund is finding better value in local-currency bonds compared with their hard-currency equivalents, which have become a crowded trade. Local debt has turned a corner in 2017, providing more than double the returns of dollar-denominated developing-country bonds after delivering losses over the past three years, Bloomberg Barclays indexes show.
