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Legal & General taps Hung for fixed-income role

HONG KONG: Legal & General Investment Management (LGIM), one of Europe’s largest institutional asset managers and a major global investor, has appointed Horace Hung as senior credit analyst for emerging markets.

Hung will be responsible for independently conducting research into holdings and potential holdings within assigned sectors in Asia-Pacific and other emerging markets. His research will form part of LGIM’s global high-yield investment process.

Hung joins LGIM’s global high yield team from Manulife Asset Management (Asia) where he was senior director of credit responsible for high-yield credit research in Asia and generating trading ideas for both the investment-grade and high-yield portfolio management teams.

With nearly 15 years of experience in the Asian credit markets, Hung holds an MBA from the Chinese University of Hong Kong and a masters in finance from London Business School. He is a CFA charterholder and a fellow member of the Association of Chartered Certified Accountants UK, and the Hong Kong Institute of Certified Public Accountants.

“[Hung’s] appointment marks the expansion of our global high-yield team into Asia, at a time when we are seeing rapid development in the Asian fixed-income markets and growing demand for our fixed-income products from Asian institutions. [He] is a true expert in these markets and we are delighted that he is joining us to build out our high-yield presence in the region,” said Martin Reeves, LGIM’s head of global high yield.

For his part, Hung said: “LGIM is one of the largest and best-performing fixed-income investors in the world. I am thrilled to join such a strong global player at this exciting time in its development.”

LGIM opened its Asia-Pacific headquarters in Hong Kong in July 2013 as the latest stage of its international expansion. Led by Alan Flynn, head of Asia-Pacific, LGIM is established in the region to provide index and fixed-income solutions to large institutional clients.