SYDNEY, Sept 27 (Reuters) - QIC, one of Australia's largest fund managers, is upbeat on debt issued by U.S. building companies and domestic utilities, but is bearish on Asian banks as negative yields from some sovereign bonds push investors to riskier assets.
"Shorter-dated utility bonds offer particularly attractive value considering solid credit fundamentals," said Susan Buckley, managing director of global liquid strategies at QIC in Brisbane. She sees companies operating in Australia as well placed to outperform other industry groups.
QIC, the investment arm of the state of Queensland, was part of an international group, including China Investment Corp, that won last week a hotly-contested bid for Australia's busiest port for nearly A$10 billion.