Traditional safe haven investments are back in fashion as many investors around the world flock to U.S. Treasurys (UST), the Japanese yen and even Japanese government bonds.

“There are many bargain hunting opportunities emerging…especially in Asia," Norman Chan, CIO at PCM Capital said on CNBC Asia Pacific’s “Protect Your Wealth” segment. "Convertible bonds would be one starting point.”  (Watch full interview below)

As fixed income instruments have been bombarded of late, Chan says "the price level of some convertible bonds are very appealing or may even be (exhibiting) tempting risk-reward profiles."

Even though there is now a premium attached to such plays, they’re still regarded as some of the safer bets around.

“Yes, I think the premium is a little bit overly expensive,” he says. But Chan notes that USTs are trading close to historic lows.

Chan also adds that he is not bullish on gold due to the lower inflation outlook. “Gold prices have not been able to really demonstrate safe haven capabilities and they also drop along with commodity prices.”

Comments? Questions? Send them in here.

Catch "Protect Your Wealth" on CNBC's Asia Pacific network every Tuesday on "CNBC's Cash Flow," Wednesday on "Asia Squawk Box" and Thursday on "Capital Connection."

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