UBS Asset Management announces launch of ninth onshore fixed income fund in China

Maria Nikolova

The fund aims to provide a more robust fixed-income solution for investors in China based on a flexible and diversified allocation approach.

UBS Asset Management has announced that its wholly foreign-owned enterprise UBS Asset Management (Shanghai) Limited has launched a private fixed-income fund, “UBS (CN) China Yufeng Fixed Income Bond Strategic Series 5 Private Securities Investment Fund”, which has filed with the Asset Management Association of China (AMAC).

Brian Lou at UBS AM (Shanghai) Limited and manager of the fund, explains:

“By using an overseas fixed maturity fund strategy, the fixed interval bond fund aims to lock in expected returns within a fixed period and, based on a flexible and diversified allocation, provide a robust fixed-income solution for institutional investors in China.”

UBS Asset Management (Shanghai) Limited’s fixed income team has issued nine bond products, three of which were launched in 2020. Taking into account factors including interest rate-sensitivity and corporate rates of return, these products harness cash management strategy, as well as interval and flexible bond strategies, to establish a diversified strategy that satisfies the diverse risk / return needs of investors.

The UBS AM Fixed Income team has long been bullish on the investment potential of China’s bond market. Hayden Briscoe, Head of Asia Pacific Fixed Income, believes that, as world bond markets shift to negative yields, China government bonds offer a unique value proposition to investors based on low correlation and volatility as well as attractive yields.

“We seek alpha opportunities based on the safety cushion of allocations to rate bonds and high-grade credit bonds in the second half of the year, such as the mergers of leading players in some sectors. Meanwhile, we have been tracking the credit bonds of industry leaders in real estate, infrastructure, consumers, healthcare, nonferrous metals and machinery. All of these require asset managers to conduct careful and top-down research,” said Lou.

“In terms of risk control and in line with UBS AM’s global methodology, we insist on a high degree of diversification as well as a top-down approach coupled with macro analysis. At the same time, we have sought to lower net value volatility through a more precise duration management in an effort to provide more localized products to customers,” added Lou.

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