Santa Monica, CA (October 18, 2011) – Dalton Investments today said that it has named Belita Ong as chief executive officer of the firm. Ms. Ong, who joined Dalton in 2001, becomes the firm’s first full-time CEO. At the same time, Dalton announced the appointment of Michelle Lynd as general counsel and chief compliance officer. With assets under management of approximately $1.3 billion, Dalton is a global investment management firm focused on global equities, Asian equities and distressed investing.
“Our firm has grown to the point in size, diversity and maturity where we need the attention and focus of a full-time CEO who can provide both the day-to-day management and long-term vision necessary to best serve our clients,” said Dalton co-founder Steve Persky. Read More> >
Emerging markets bonds and equities have taken divergent paths in 2011 despite having similarly strong long-term outlooks.
Emerging markets bonds have taken on some of the safe-haven status of their developed-markets cousins, while emerging markets equity performance has lagged that in developed markets.
...
“Emerging markets debt has been a marvelous way for investors to get exposure to emerging markets currencies, especially for those investors in developed markets” whose currencies have been comparatively weaker, said James B. “Jamie” Rosenwald III, co-founder and senior portfolio manager for Asian equities at Dalton Investments LLC, Santa Monica, Calif. Read More>>
Hold on for just a New York minute now and consider the powerfully serious message the bond market sent last week about the political dithering in Washington and in Europe’s capitals. “Pay attention folks,” as the investor Gifford Combs e-mailed me on Friday. “This is not a drill.”
Here are the facts: The yield on Greek sovereign debt is now at record highs for the euro era. Last week’s state-managed bond auction in Italy almost failed. And, while few seem to have noticed, the overnight repurchase market -- for short-term, secured, corporate debt obligations -- nearly seized up amid what Combs described as “an almost panicky scramble” for less- risky paper. Read More>>