News

HSBC GAM offers route to China’s government bond market

Forbidden_City_gateHSBC Global Asset Management (GAM) has announced the launch of the HSBC China Government Local Bond Index Fund amid an uptick in interest in China’s bond market amongst overseas investors. According to HSBC GAM, the passive fund “is designed to offer investors a cost-efficient way to access China’s government bond market”. It will track the performance of the Bloomberg Barclays China Treasury and Policy Bank 9% Capped Bond Index and is domiciled in Ireland under HSBC’s ICAV platform. HSBC GAM’s passive fixed income team will manage the fund led by the head of passive fixed income, Sebastien Faucher. “With global yields at historically low levels, investing in China onshore bonds can offer investors the yield premiums they are searching for,” said Faucher. “At the same time, our view is that this asset class is far less impacted by global risk sentiment, offering compelling diversification benefits. “As China opens up its bond market to overseas investors, foreign ownership in its onshore government bonds and policy bank bonds has picked up to around 8% and 3% respectively and is expected to rise further in the coming months,” added Faucher. ©2019 funds global asia

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