This fund manager oversees $10 billion. Here’s where he’s investing as inflation stays high

June’s inflation figures are out — and they don’t look pretty. U.S. consumer prices were hotter than expected, surging to another 40-year high.

Rising prices are however unlikely to cool to the Fed’s 2% target — and look set to remain so for the next few years, Ben Kirby, co-head of investments at Thornburg Investment Management, told CNBC’s “Squawk Box Asia” on Tuesday, a day ahead of the release of June’s inflation data.