Hedge Funds

Emerging market picks from GLG, Brevan Howard and Canyon


Russian rubles, Nigerian T-bills and Turkish banks among the calls made at a Milken Institute Global Conference panel.

  The view at the Miliken Global Conference

LOS ANGELES -- Top traders from some of the world's largest hedge funds talked up their investments in emerging markets at the Milken Institute Global Conference today, eschewing the traditional industry debates over U.S. equities, European debt and other crowded trades in the developed world.

Filippo Cipriani, senior trader at $34 billion Brevan Howard Investment Products, recommended going long the Russian ruble and expects a 2% or 3% appreciation this year. "There's a tremendous opportunity," said Cipriani, noting Russia''s low debt, current account surplus and government plan to widen the band