India’s entry into a global bond index drew investors to the nation’s sovereign debt. It’s now time to rotate some of the money to corporate debt, according to an asset manager at a $102 billion fund house.
ICICI Prudential Asset Management Co. is slashing holdings of sovereign debt in its top-performing dynamic bond fund, Manish Banthia, chief investment officer for fixed income, said in an interview. He’s instead putting money in investment-grade corporate bonds with one- to three-year maturity, and in certificates of deposits.
