JAKARTA: Principal Asset Management fund is keeping a close eye on the rupiah after selling most of its Indonesian sovereign bonds, as political instability stirred concern over fiscal policy.
The fund sold Indonesian government debt earlier this month following the appointment of Purbaya Yudhi Sadewa as finance minister, said Howe Chung Wan, Singapore-based head of Asian fixed income, adding that the fund manages US$4.8bil in emerging-market assets.
