Eastspring launches China bonds fund in Singapore

China growthEastspring Investments, the Asian asset management arm of Prudential, is looking to capitalise on investor interest in Chinese government bonds by rolling out its China Bond Fund in Singapore. The fund will be managed by Guan Yi Low, chief investment officer for the firm’s Singapore-based fixed income team. The fund was originally launched in December 2019 as a Luxembourg-domiciled vehicle. Following the inclusion of China government bonds in some major fixed income indices such as FTSE Russell’s, the US$493 million fund is now open to Singapore retail investors. It will be distributed through retail banks and independent financial advisors in Singapore with no initial marketing period. Eastspring hopes the fund will be authorised for sale to Hong Kong investors and plans to submit the fund to the Securities and Futures Commission by Q3 2021. “The fund allows investors to participate in the growing opportunities of China’s renminbi-denominated bond market,” Eastspring said in a statement to Funds Global Asia. “The onshore bond market has grown to be the second-largest in the world, offering plenty of investment options for global investors. Its compelling yield pick-up and low correlation to the developed markets provide the potential for investors to enhance their portfolios’ risk-adjusted profile,” added the statement. ©2021 funds global asia

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