Standish argues investment-grade credit is a much better place to be than high-yield bonds.
Standish, one of BNY Mellon's boutique asset managers, also sees significant upside in other non-Chinese Asian currencies.
BNY Mellon reacts to zero interest rates by offering segregated accounts for cash to institutional clients.
The credit-orientated firm expects the positive inflows of 2009 to continue for absolute-return and inflation-linked fixed-income strategies.
The Bureau of Labour Insurance continues to outsource its overseas investments with three new mandates totalling $600 million.