AXA IM Unveils Short-Duration Bond Fund Focused On China

Sep 15 2017 | 11:13pm ET

The new fund is the latest edition to AXA IM’s short-duration lineup, which now numbers ten strategies and some €25 billion in AUM, according to an article in Citywire. Launched on September 6, the Luxembourg-domiciled SICAV will be managed by former HSBC GAM portfolio manager Honyu Fung.

The fund will invest two-thirds of its assets into Chinese government, public or local-issued debt, the article continued, as well as private companies and entities. The portfolio will carry 30-70% in yuan-denominated bonds, which AXA IM can access via its RQFII allocation.

Duration is expected to be less than three years, the article added, while average rating is expected to be BBB+.

The new fund is passported for sale in Austria, Belgium, Denmark, Finland, France, Germany, Italy, Luxembourg, Netherlands, Norway, Spain, Sweden, Switzerland and United Kingdom.

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