SINGAPORE: Western Asset Management Co. is reducing its Indian government bond holdings as tensions around a new citizenship law and the Kashmir region cloud the economic outlook.
The $453 billion investor, an affiliate of Legg Mason Inc., is diverting some of its funds into longer-dated Malaysian and Chinese debt, according to Desmond Soon, head of investment management for Asia ex-Japan. It has an overweight position in India bonds.
Already a subscriber? Log in
The Star Festive Promo: Get 35% OFF Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
