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Malaysian Asset Manager Launches Global Bond Fund

Vanessa Doctor Asia Correspondent 26 November 2013

Malaysian Asset Manager Launches Global Bond Fund

Malaysian asset manager Maybank launches new global fund that opens opportunities for investors to tap the international sovereign debt market.

Maybank Asset Management, the Malaysian financial services firm, has launched a new bond fund that gives investors a chance to diversify their portfolios by offering access to sovereign debts across globe. 

The new Maybank Global Bond Fund is the firm's first global unit trust offering to local investors, it said in a statement. It is an income type feeder fund that invests in the Templeton Global Bond Fund, which provides returns through interest income, capital appreciation and currency gains. As at 30 September 2013, the target fund, Templeton, has 17.31 per cent of its holdings in South Korea, 11.54 per cent in Poland and 10.53 per cent in Malaysia. 

"Countries across the world are at different stages of their economic cycle which means that there are always opportunities to be found. Investors should have access to global sovereign bonds as they provide consistent income and a defensive position against market volatility," commented En Badrul Hisyam Abu Bakar, executive director of Maybank AM Malaysia and regional head of investment at Maybank AM. 

Badrul adds that Malaysia is an important market where Maybank can grow further, with the net asset value of the unit trust industry quadrupling over the last 10 years to MYR329 billion ($102 billion) in 2013. The group projects that this figure will increase to almost MYR830 billion by 2020. 

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