HSBC Gam launches emerging market bond funds
HSBC Global Asset Management (HSBC Gam) has launched two emerging market bond funds targeting Latin America and Asia. Under the Luxembourg-based Global Investment Funds umbrella, the HSBC group is offering the Latin American Local Debt fund and the Asian Currencies Bond fund to the UK retail market.
HSBC Gam said the Latin American fund will adopt a concentrated portfolio of 20-50 stocks. It will invest purely in local currency bonds, while the Asian Currencies Bond fund will also trade in dollar bonds. Both funds will invest across government bonds, investment grade and high yield.
HSBC Gam says the Asian currency debt market is growing rapidly, due to which allocations to Asian local currency debt have increased this year as investors seek higher yields than those available in the US and in Europe. HSBC Gam has also announced the launch of its first ever fund to focus on the ‘Civet’ economies of Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa