First Brands Collapse Shows EM Credit’s Edge, Africa Fund Says

The quality of credit in emerging markets is “significantly higher” than in developed ones, according to the chief executive of South Africa’s biggest independent fund manager.

“I’m not worried about our African and emerging-market credit business whatsoever because it’s been starved of capital for a long time,” Ninety One Plc Chief Executive Officer Hendrik Du Toit said at the inaugural Bloomberg Africa Business Summit in Johannesburg Tuesday. “I worry about developed markets, where they’ve layered layers and layers of credit on top of things.”