Amundi’s UK chief backs emerging markets for credit investors

A global perspective

Crosnier, Amundi: top-down investing is not relevant for credit

Crises force investors to look at the big picture, bringing asset allocation even more to the fore. In the wake of the global financial crisis of 2007–9, investors with mandates heavily limited by asset class or geography found it increasingly hard to manage their portfolios.

Today the advantages of having a global, cross-asset mandate are clear: flows of institutional money into emerging markets and out of peripheral Europe last year offered a sign that narrow portfolio mandates are ill-suited