Reuters – London-based hedge fund firm Adelante Asset Management has bought a position in the cut-price bonds of debt-laden Greece, betting that efforts by European politicians to restructure its debt mountain will provide a short-term boost to bond prices.
The firm, which specialises in emerging markets debt, bought a basket of bonds at 12.5 cents shortly before Greek elections this month, won by a conservative-led government promising to negotiate softer terms on its tough international bailout.
