Bosera Asset Management has laid claim to launching China's first fund investing predominately in Asian bonds.
The Bosera Asian Bond fund, unveiled this week, will adopt a buy and hold strategy and target high yield RMB and USD bonds issued in Hong Kong by Chinese and Hong Kong companies.
The fund is mandated to invest a minimum of 80% across Asian bond markets and is the Shenzhen headquarted asset manager's ninth bond fund launch.
In November 2011 the firm partnered with Citigroup First Investment Management (CFIM), part of Citigroup‟s global markets division, to launch a China balanced fund followed by a RQFII RMB bond fund launch in January 2012.
Commenting on the latest addition to the fund range, Kai HE, deputy head of global investment of Bosera said:
'We saw the market capitalization of Asian bond market surge 38% in 2012 from last year. The capital markets in Asia started to shift their focus and there is a trend that corporations fight for capital in the bond market.'
'We think the Asian bond market will stay at a relatively high coupon rate in 2013, low risk investors may keep an eye on that.'
Bosera Asset Management was one of the first five fund management companies established in China. It runs over US$ 30 billion in assets, including US$ 8.6 billion in pension assets.