Maybank Asset Management (Maybank AM) has unveiled Maybank Global Bond Fund, a new bond fund that invests in sovereign debt in emerging markets.

The new bond fund aims to maximize investment returns by investing in the Templeton Global Bond Fund (TGBF) which provides total investment returns though interest income, capital appreciation and currency gains.

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Maybank is targeting a take-up of RM50 million in three months and RM75 million to RM100 million in a year for the new fund.

Badrul Hisyam Abu Bakar, executive director of Maybank AM, said: “The net asset value of the unit trust industry has nearly quadrupled from RM87.4 billion in 2004 to RM329 billion in 2013, and has been projected to increase to almost RM830 billion in 2020.”

Bakar added: “Investors should have access to global sovereign bonds to provide a consistent income and defensive position against market volatility. The target fund has 17.31% of its holdings in South Korea, 11.54% in Poland and 10.53% in Malaysia, as at 30 September.”

Christopher Geh, regional head of products and marketing at Maybank AM, said: “This is our first offering in the global space but we intend to have a full suite of products from equity to bonds as we believe in catering to a whole range of investor appetite, so what’s in the pipeline will be mostly customized to the investors’ profile.”

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Currently Maybank AM has RM11.7 billion of asset under management and targets to increase that by 20% on the back of its debut global fund and other offerings in the pipeline.