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This year “all about FMPs”, but change incoming: Legg Mason

Dice symbolize the change to the new year 2020

Despite growth concerns pushing Asia’s private banks into bond markets this year, especially fixed maturity plans (FMPs), a demand rotation from fixed income to equities is likely over the next 12 months, according to Legg Mason. This can be attributed to existing bond holdings on those banks’ books not being safe anymore, the firm’s active equity specialist Martin Currie said. “In…

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