Threadneedle Investments, a UK-based asset management firm, has launched a fixed income fund, Threadneedle (Lux) Developed Asia Growth and Income Fund, as part of its expansion plans in Asian market.
The latest bond fund will be developed and managed by its Singapore-based investment team of five, led by Threadneedle Asia-Pacific head of fixed income Clifford Lau.
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The asset manager that forayed into the Asian market in 2008 has offices in Singapore, Hong Kong, Taiwan, Malaysia and Australia; however, it is keen to make Singapore its investments headquarter outside of the UK and the US.
The scheme will follow an unconstrained bond strategy, investing across the Asian fixed income markets in both hard and local currency government bonds, high grade and high yield corporate bonds as well as global sukuk bonds.
The bond fund is expected to invest across the diverse Asian Fixed Income markets including hard and local currency sovereign debt, high grade and high yield corporate bonds and global sukuk bonds, according to The Asset.
Lau was quoted by the news agency as saying that the Asian credit market remains fundamentally resilient.
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By GlobalData"Within Asian hard currency bonds, we see declining volatility and spread valuations are still attractive compared to other global hard currency bonds. Within the local currency bond markets, we are focusing on high yielding markets where we see potential for economic improvement," added Lau.
"Global sukuk has shown relatively strong performance with lesser volatility compared to other asset classes. This is an exciting time for Asian fixed income investors and we are delighted to be presenting such a strategy to the local market."
