Hold your horses! debt managers advise

distressed debt

Hold your horses, say allocators to distressed debt. While the strategy has been tickling many an allocator's fancy of late, experts in the field are saying the best is yet to come for investors as companies move from being stressed in the first half of 2007, to being distressed in the second half and into 2008.

The 'holding period' before distressed is expected to hit its straps later in 2007 has not stopped new launches being planned for the event-driven strategy by funds of hedge funds man