"One of the advantages of being global in approach is that you can pick your spots. So if you take a regional approach - and a lot of high yield investors do take a European- or a US-centered approach - then you're forced to make calls in parts of those markets that mightn't be as attractive.
"We have a more global approach, and we don't seek to own everything in the market, and there are whole parts of the market we are able to just avoid. At the moment, we consider emerging market high yield to have poor risk/reward characteristics, so we just don't buy into it. When you're global you open up the opportunity set and you can really tailor and take those risks that you want to take."
David Ennett, Head of High Yield at Kames Capital, sat down with FundForum correspondent Emma Walden at FundForum International to discuss the opportunities for high yield investments.
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