Ayaltis will only buy Asia "on the cheap"

Picking the best managers of the worst assets seems a contradictory strategy when it comes to running a fund of hedge funds, but Ayaltis favours distressed. The Swiss manager launched in late 2008 – a timing that suited the firm, as it focuses on funds that invest in undervalued assets in the stressed and distressed credit space. “When everyone is jumping out of the window and throwing out their jewels, [assets] are at their best true [value],” says Ernesto Prado, the colourful …