KUALA LUMPUR: Western Asset Management Company, a specialist investment manager of Franklin Templeton, sees the potential in China, India and Indonesia among the emerging markets (EM) for its fixed income asset diversification and allocation strategy, Bernama reported.

       Head of emerging markets debt Lian Chia-Liang said Asian local debt, including China bonds, has become a core allocation for global investors.

       “From a valuation standpoint, it has an attractive attribute of enhancing portfolio yield but without the higher octane features that are typically associated with peers in Latin America and other emerging market regions.

       “Specifically, the progressive inclusion of Chinese onshore bonds to major global indices underscores China’s increasingly pivotal role in steering the global economy alongside the United States and European Union (EU),” he said at a webinar titled “2022 Asia Fixed-Income Update” yesterday.