Convertible bonds issuance set to grow in second-half 2009

Investment rally in equities and credit keeps up momentum as investors benefit

Convertible bond issuance in Asia is expected to snowball during the second half of the year, due to the strong returns investors have made from Asian convertible bonds following the equity market rally since March. Bankers say the traditional investor base of hedge funds has returned to the market as well as a new class of investors, dubbed 'convert outrights' - buyers who are only looking to pick up convertible bonds. These funds have been around for a long time, but historically have not inve