US high-yield specialist eyes Asia

KDP Asset Management, an American high-yield bond specialist based in Montpellier, Vermont, is making initial marketing and fact-finding investigations into Asia. One of its executives, Michael Penniman, has visited Hong Kong to gauge interest in selling its US dollar-denominated Defensive High Yield portfolios to Asian institutions. The firm has provided independent high-yield research for over 25 years for a client base largely comprised of US defined benefit pension funds. Its 18 …