US fund ‘aggressively buying’ Irish Government debt

DAN Fuss, who as vice chairman of Loomis Sayles helps oversee funds worth $150 billion (€107bn), said the firm has been buying Irish Government debt aggressively in recent weeks for its attractive yield and “very decent” credit quality.

“We have a completely different view of Irish debt than the rest of the world,” Mr Fuss said. “The bonds have been and continue to be cheap. Their yield is attractive relative to the view expressed in the market on Ireland’s credit quality.”

Mr Fuss said the US fund manager has been a buyer in the secondary market and took part in Ireland’s €1.5bn debt auction.