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Matthews Asia launches credit fund for AAA-rated manager

Matthews Asia launches credit fund for AAA-rated manager

Matthews Asia has launched a new fixed income fund adding to tap opportunities in US dollar-denominated high yield bonds from Asian issuers.

The Matthews Asia Credit Opportunities fund is Luxembourg-domiciled and will be managed by Citywire AAA-rated Teresa Kong and portfolio manager Satya Patel.

It will invest mostly in US dollar-denominated bonds of Asian issuers as well as convertibles, local currency bonds, warrants and equities.

The company believes Asia’s liquid corporate bond market is a relatively under-researched asset class. Investors can take advantage of attractive levels of yield and capital appreciation in the market.

Commenting on the launch, Kong said: ‘Asia credit provides a compelling investment solution—historically, it has generated higher return than US, Euro and Latin American high yield bonds with similar or lower volatility.’

‘This strategy will appeal to investors seeking a lower risk profile than our equity strategies, yet are comfortable with the risks associated with sub-investment grade debt.’

Matthews Asia said the outlook for the Asian fixed income market will become increasingly positive over the next decade, with this credit-based strategy designed to complement existing fixed income exposures.

The company launched a strategic income fund for Kong in September of last year, the Matthews Asia Fds-Asia Strategic Income, which was a mirror of an existing fund which Kong and her team have run since 2011.

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