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Article: The New Jet Set; Fund managers look for investors overseas in hopes of luring them with their double-digit returns.(Structured Finance)(Investment services)(Babson Capital )
- Article from:
- Investment Dealers' Digest
- Article date:
- October 30, 2009
- Author:
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Byline: Richard Kellerhals
U.S. fund managers may be spending extra time at airport boarding gates and accumulating frequent-flier miles these days, now that they are courting overseas investors with fund products that focus on bank loans and high-yield bonds.
These fund firms - armed with selling points such as double-digit returns and relatively cheap prices of certain types of distressed debt - are focusing on investors overseas more than they ever have before, according to various industry participants.
"There are a lot of investors hopping in planes, trying to get these [clients]," according to one New York-based investment banker.