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Emerging Markets Decoded
Kojon: Most local pension firms and local institutions, they tend to prefer serving debt. For them the spread pick up maybe maybe 2 or 3% so for them it doesn't really make much difference. As a foreign investor you're not going to get more 30% or so. So for a lot of people they look at it as they see the value but I think it's priced appropriately for the double risk you take.