VAM launches Asia fixed income fund
VAM Funds’ new Asia Fixed Income Fund has been created to enable investors to benefit from average returns of over 6 per cent in the Asian fixed income market.
Returns on investment grade corporate bonds are averaging more than 6 per cent, according to a VAM statement.
The fund will be operated by Hong Kong-based Enhanced Investment Products (EIP), which VAM says has over seven years of consecutive positive returns in Asia.
The VAM Asia Fund will hold a portfolio of 20 to 50 names from around 650 bonds.
“Asian Fixed Income is a growing market and, given the present need for yielding assets, this fund offers a solution to investors who are looking for low volatility with a medium return,” EIP chief executive Toby Bland said.
“Asian investment grade corporate bonds offer value for investors because of their relatively wide spreads over US Treasuries and low risk of default, and are likely to deliver more stable future returns,” Bland said.
Recommended for you
Shaw and Partners chief executive, Earl Evans, has said the firm is seeking to double the assets under management at its latest New Zealand acquisition ISG, having made the “left field” decision to embark on overseas M&A.
Advice licensee Count has seen an appeal filed to a class action against it which was dismissed earlier this year.
Going forwards, advisers’ use of platforms will be divided into those “core” offerings and “peripheral” ones, with those in the latter category facing an existential threat.
ASIC has accepted a court enforceable undertaking from a Perth-based company auditor who failed to adequately conduct multiple audits on an advice firm that receivers say has $100 million missing.
