Asia Debt Management Ltd., a Hong Kong-based asset management firm that specializes in distressed debt, is looking to expand its use of structured notes. Robert Appleby, managing director, declined to give reasons for the move, citing the proprietary nature of the firm's investment strategy. Asia Debt Management manages USD100 million in distressed debt and also handles USD300 million in passively managed portfolios.
Appleby said the firm uses over-the-counter derivatives, such as credit derivatives, since these provide a more efficient means of expressing market views than cash instruments. Asia Debt Management is talking to banks about its plans, he added, declining to name potential counterparites.
