<|begin_of_text|><|begin_of_text|><|begin_of_text|>Record low and negative interest rates in developed economies are fueling a ravenous search for yield that is forcing pension funds and other conservative institutional investors out of their comfort zones and into risky emerging markets, according to fund managers and analysts.
The reason<wm> behind this quest for a return on investment that has driven asset values up for a decade on low interest rates is a mismatch between the relative prices of assets, with prices exceeding their intrinsic value, driving a fundamental imbalance.
"Investors are desperately searching for a return that can keep pace with rising inflation," said a senior investment officer at a US-based investment advisory service. "Given that bond markets and fixed income, such as government and high-quality corporate bonds, have been hurt by low rates, investors are</wm> increasingly looking elsewhere."
As a result, the search for higher yields has become a key theme of the