RPT -INVESTMENT FOCUS-The answer to risk? More risk
(Repeats Jan. 22 story with no changes to text)
* More illiquid markets less likely to sell off
* Managers seeking names insulated from oil price, China
* GRAPHIC-Toxic Trio bond performance:
By Marc Jones and Claire Milhench
LONDON, Jan 22 (Reuters) - The volatility across mainstream emerging assets is driving bond fund managers to seek safety in even riskier markets such as Pakistan, Jamaica, Argentina, Honduras and Venezuela.
These countries may have looked unappealing two or three years ago, but the fact that they have a low correlation with global asset price swings and tend to be too illiquid for people to sell out of, is making them increasingly attractive.
"The six best performing bonds in the world last year were credits that most people wouldn't touch with a barge pole, and it will probably be the same this year," said Jan Dehn at emerging market fund manager Ashmore. Continuación...