Fidelity's bondholder activist cautions yield chasers

Bryan Collins, a portfolio manager at Fidelity, is one of the more vocal fund managers within the industry, whether it be taking on companies seeking to loosen bond covenants without sufficiently compensating investors or expounding on the risks of corporate hybrids. In this interview with FinanceAsia he talks about the fundamentals supporting Asian high-yield bonds and whether investor protection has improved.

We’ve seen record dollar bond issuance in Asia so far this year do investors have the appetite to sustain that level of issuance
The strong issuance we have seen year-to-date is, in part, a reflection of a few things....