Asian bonds a core asset, says former KIC CIO

For the region's institutional investors, including sovereign wealth funds, that would like to diversify overseas but face costly currency hedges, Asian fixed income is increasingly plausible, argues Guan Ong, former chief investment officer at Korea Investment Corporation. Addressing an audience of Asian and North American pension funds last week at the Pacific Pension Institute conference in Bangkok, Ong said many large institutional investors need to diversify beyond their domesti…