Convertible bonds gain traction in Asia

Convertible bond (CB) prices had fallen to such a degree by March last year that Asian issues were extremely attractive, and investors -- particularly in Europe -- bought in heavily. That has sparked interest in a market that only kicked off in the region in 2006, says Natalia Barazal, Geneva-based convertible bond manager at Swiss asset manager Lombard Odier. The firm set up an Asian CB fund in December 2008, which was up 24.2% as of December 31. And since many Asian corporates will…