SSGA begins securities lending on Asian bond fund

Chinese_indicesState Street Global Advisors (SSGA) says it will lend out some of the securities held by a fund investing in Asian bonds “to potentially enhance returns”. The firm says that from July 10, qualified borrowers will have access to some of the local currency bonds held by its ABF Pan-Asia Bond Index fund. The revenue from lending the securities will offset the fund’s costs to the benefit of investors. June Wong, head of Asia ex-Japan, said the lending programme will also support regional markets. “We believe the addition of Asian local-currency denominated bonds into the lending pool will deepen liquidity in the secondary markets, ultimately benefiting all investors,” she said. SSGA, which had $2.7 trillion under management at the end of March, is the investment management arm of State Street. ©2018 funds global asia

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