Is it time to buy the dip?
The Chinese High Yield market has fallen into crisis level since 2H last year. This has been the most extended and devastating correction in its history! One after another, property developer bonds, including some that are perceived to have healthy balance sheets, are falling apart.
What is the origin of this crisis and why does it take so long to recover? Why are the government’s measures not helping? When and how will this end? Is it time to buy the dip? If so, which names are the best to accumulate?
Will Chung (CBS '98), the Head of Fixed Income at China Everbright will share his expert perspective with us on this zoom session. Will recently won the best Fixed Income Fund by the HFM Asian Performance Awards!
This session will be moderated by Elaine He (CBS’15), a China debt syndication veteran at Morgan Stanley.
Guest Speaker Bio
Will Chung (CBS ’98) is Head of Fixed Income Investments at China Everbright Asset Management and the lead PM for Everbright Dynamic Bond Fund and Co-PM of Everbright Convertible Opportunities Fund. Will has nearly 20 years of experience in Asian fixed income with a particular focus in China high-yield, convertible and currencies overlay. Prior to his investment career, Will was in strategic consulting and transaction advisory roles for Boston Consulting Group, AT Kearney and Arthur Andersen.
Will received his bachelor degree in professional accountancy in The Chinese University of Hong Kong and his MBA from Columbia Business School.
Moderator Bio
Elaine He (CBS ‘15) is responsible for China debt syndication at Morgan Stanley. She was ranked #2 syndicate manager in Asia by The Asset in 2020 and 2021. Prior to her current role in capital markets, Elaine worked in Morgan Stanley’s fixed income sales & trading division covering a variety of assets including credit, rates and securitized products. She also worked as an investor in Morgan Stanley’s Strategic Finance Group, handling special situation investments.
Elaine received her bachelor degree in Electronics Engineering from the University of Hong Kong and her MBA from Columbia Business School.