Aberdeen Asset Management has expanded its fixed income funds range by launching two new Asian bond funds.
The Aberdeen Global Indian Bond Fund, which is a single country strategy, will invest in a portfolio of local currency corporate and quasi-sovereign bonds.
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The Aberdeen Global Asian Credit fund is pan-regional and will allocate mainly to investment grade hard currency issues across the region, as well as some high yield.
Both the funds will be led by 18-member team of Asia Pacific fixed income analysts, headed up by Victor Rodriguez.
The Indian Bond Fund and Asian Credit Fund will be launched with a seed capital of around $60m and $10m respectively at inception from internal allocations.
The funds are currently registered for sale in countries including Austria, Belgium, Germany, Italy, Luxembourg, Netherlands, Spain and Switzerland.
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By GlobalDataAberdeen said the new launches reflect its belief that Asian debt fundamentals are improving but mis-priced.
Aberdeen head of Asia Pacific fixed income Victor Rodriguez said: "The fundamentals of the Asian credit and, especially, Indian bond, markets are compelling yet investor perceptions have not yet caught up. This is a part of the world where growth and savings are being generated and where policy makers are largely on top of events.
"In India the term structure of interest rates is in decline and that is very positive. Elsewhere, we find attractive real yields backed by decent, sustainable cashflows. When there is so much anxiety globally about inflated asset prices Asian debt would seem to offer good pricing and long-term diversification potential."
