Henderson Global Investors, an international asset manager with USD149 billion under management, is considering using interest rate and credit derivatives in Asia for the first time from its newly minted fixed-income desk in Singapore. "These are ways to pick up performance where appropriate," said Tim Swadling, associate director of fixed interest in Singapore. Swadling transferred from the U.K. last Monday to establish the fixed-income operation.
The firm would use the derivatives to convert bonds into floating-rate liabilities and sell credit-default swaps as an alternative to purchasing the underlying protection. The fund manager could be using the products within six months, said Swadling.
