ASSETS UNDER MANAGEMENT (US$BN) US$94bn* Equity Bond Others

Save this PDF as:

Size: px
Start display at page:

Download "ASSETS UNDER MANAGEMENT (US$BN) 44.8. US$94bn* Equity Bond Others"

Transcription

1 FIXED INCOME CAPABILITIES OVERVIEW OCTOBER 2013 All data as at 30 September 2013 unless otherwise stated ABOUT EASTSPRING INVESTMENTS Eastspring Investments, part of Prudential plc^, is an Asian investment specialist with on-the-ground Asian knowledge and insights from across the region. Our regional investment hub based in Singapore currently manages assets across a broad range of investment strategies for both Asian and non-asian institutions, and works in conjunction with local offices to provide solutions for institutional clients. ASSETS UNDER MANAGEMENT (US$BN) 7.1 US$94bn* Equity Bond Others WHY EASTSPRING INVESTMENTS REGIONAL FIXED INCOME TEAM** Experienced, centralised team with an Asian focus & G7 capabilities A significant scale of operation which offers access and strong positioning with counterparties Dynamic and multi-factorial investment approach Rigorous credit research process that emphasizes on proprietary research Established track record INVESTMENT STRATEGIES Eastspring Investments Regional Fixed Income team manages US$17.7bn* of assets. Below highlights some of the flagship strategies: ASIAN BOND ASIAN LOCAL BOND ASIAN HY BOND SINGAPORE BOND Focus on Asian US$denominated bonds Value add from 2 key sources: US interest rate management and credit allocation / selection Focus on Asian local currency denominated bonds Value add from 3 key sources: Asian local interest rate, currency and credit management Focus on the fast-growing opportunities in the Asian high yield bond market Credit selection as the key source of value add Single-country strategy, focusing on SG$ interest rate market Value add from Singapore duration / yield curve management and credit allocation / selection 1 Source: Eastspring Investments (Singapore) Limited. *AUM as at 30 June 2013; refers to AUM of all asset management business in Asia. **Based in Singapore. ^Prudential plc is not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America. For Professional Investors Only

2 ASIAN BOND ASIAN LOCAL BOND ASIAN HY BOND SINGAPORE BOND BENCHMARK JP Morgan Asia Credit Customised HSBC Asian Local Bond (excl China & Taiwan) JPMorgan Asia Credit Non-Investment Grade 50% HSBC SG Govt+ 50% HSBC SG Non- Govt ASSET CLASS Primarily US$ denominated: Corporate Government Quasi-government Primarily local currency denominated: Government Quasi-government Moderate exposure to Corporate Primarily US$ denominated: Corporate Government Quasi-government SG Government Investment Grade SG$ non-gov bonds Non-SG$ Corp bonds INTEREST RATES STRATEGY SIZE LEAD PORTFOLIO MANAGER Primarily US interest rate Over eight Asian interest rate markets Primarily US interest rate Primarily SG$ interest rate (hedged to SG$) US$2,036m US$835m US$198m US$2,008m David Lai Guan Yi Low Wai Mei Leong Wei Ming Cheong 2 PERFORMANCE ASIAN BOND 1 YEAR 3 YEARS P.A. 5 YEARS P.A. S.I. P.A. COMPOSITE GROSS US$ (%) COMPOSITE NET US$ (%) BENCHMARK (%) GROSS RELATIVE RETURN (%) The Asian Bond composite (C049) includes separately managed portfolios that primarily invest in Asian fixed incomes securities and managed to JP Morgan Asia Credit. Prior to Aug 2006, the benchmark was Chase Asia Bond Total Return Composite. Inception: July ASIAN LOCAL BOND 1 YEAR 3 YEARS P.A. 5 YEARS P.A. S.I. P.A. COMPOSITE GROSS US$ (%) COMPOSITE NET US$ (%) BENCHMARK (%) GROSS RELATIVE RETURN (%) The Asian Local Bond composite (C128) comprises of a single portfolio that primarily invests in Asian fixed incomes securities and managed to customised ALBI with Government & Corporate bonds. Inception: September 2006 ASIAN HIGH YIELD BOND 1 YEAR 3 YEARS P.A. 5 YEARS P.A. S.I. P.A. COMPOSITE GROSS US$ (%) 1.48 N.A. N.A COMPOSITE NET US$ (%) 1.12 N.A. N.A BENCHMARK (%) 2.95 N.A. N.A GROSS RELATIVE RETURN (%) The Asian High Yield Bond (C219) comprises of a single portfolio that invests primarily in Asian High Yield fixed Income and managed to JACI Non-Investment Grade. Inception: December 2011 SINGAPORE BOND 1 YEAR 3 YEARS P.A. 5 YEARS P.A. S.I. P.A. COMPOSITE GROSS SG$ (%) COMPOSITE NET SG$ (%) BENCHMARK (%) GROSS RELATIVE RETURN (%) The Singapore Bond composite (C078)comprises of a single portfolio that invests primarily in Singapore fixed income securities managed to 50% HSBC Non-Govt + 50% HSBC All Govt. Prior to 1 Mar 2013, the benchmark of the strategy was the UOB SG Government Bond index. Inception: September 2005 Source: Eastspring Investments (Singapore) Limited. All data as at 30 September 2013 unless otherwise stated. Past performance is not indicative of future returns.

3 WHY ASIAN BONDS Asian bond market size is growing Asian fiscal fundamentals remain relatively sound Relatively attractive Asian bond yields Potential appreciation of Asian currencies Longer-term asset allocation shift into emerging market assets INVESTMENT PHILOSOPHY The team s investment philosophy is based on the following beliefs: Adopt an investment style based on Fundamental, Valuation and Technical analysis Follow a disciplined, medium-term approach Seek to identify value opportunities created by cyclical extremities in interest rate and credit markets, or shifts in investor risk perception which result in the mispricing of assets relative to fundamentals INVESTMENT PROCESS A four-stage fixed income investment process is employed, which combines both top-down and bottom-up investment analyses to identify value opportunities. Analysis of macroeconomic and market conditions across Asian and global markets Identify mis-priced opportunities by comparing market pricing to what is deemed to be equilibrium levels Formulate investment strategies in three key areas of value add: interest rates, credit and currencies Determine appropriate investment strategies taking into consideration portfolio s objectives / guidelines Ongoing feedback and risk controls to ensure integrity of investment process (4) Risk Control & Review (1) Investment Outlook & Fair value analysis (3) Portfolio Construction (2) Strategy Formulation 3

4 THE TEAM IN DEPTH The Regional Fixed Income team has extensive investment experience managing both single-country and regional Asian bond assets. The entire team averages 13 years of industry experience. Boon Peng Ooi CIO, Fixed Income CFA, BSc Years In Financial Industry: 26 David Lai Investment Director CFA, CPA, MBA, BBA Years In Financial Industry: 19 Guan Yi Low Investment Director CFA, B.Bus Years In Financial Industry: 15 Wei Ming Cheong Assistant Director M.Fin, B.Acc Years In Financial Industry: 17 Danny Tan Assistant Director CFA, B.Bus Years In Financial Industry: 13 Wai Mei Leong Assistant Director CPA, B.Acc Years In Financial Industry: 14 Hui Hui Ang Assistant Manager B.Bus Years In Financial Industry: 5 4

5 FOR MORE INFORMATION PLEASE CONTACT: The Americas Australia Europe Middle East North Asia South East Asia IMPORTANT NOTES: Eastspring Investments claims compliance with Global Investment Performance Standards (GIPS ) and has prepared and presented this report in compliance with the GIPS standards. The Firm is defined as all portfolios, except those that are predominantly Private Equity portfolios, of Eastspring Investments (Singapore) Limited and Eastspring Investments (Hong Kong) Limited (collectively referred to as "Eastspring Investments"), which are business units within the Prudential Plc Group. To receive a complete list and description the composites and/or a presentation that adheres to the GIPS standards, contact the relevant sales representatives or write to Eastspring Investments (Singapore) Limited, 10 Marina Boulevard #32-01 Marina Bay Financial Centre Tower 2 Singapore

6 DISCLAIMER FOR INVESTMENT PROFESSIONALS ONLY This document is solely for information and may not be published, circulated, reproduced or distributed in whole or part to any other person without the prior written consent of Eastspring Investments (Singapore) Limited ( Eastspring Investments Singapore ) (Company Reg. No: H). This information is not an offer or solicitation by anyone in any jurisdiction in which such offer or solicitation is not lawful or in which the person making such offer or solicitation is not qualified to do so or to anyone to whom it is unlawful to make such an offer or solicitation. It should not be construed as an offer, solicitation of an offer, or a recommendation to transact in any securities mentioned herein. The information contained herein does not have any regards to the specific investment objectives, financial situation or particular needs of any person. Investors may wish to seek advice from a financial adviser before any making investment decision. Any prediction, projection, or forecast on the economy, securities markets or the economic trends of the markets is not necessarily indicative of the future performance of Eastspring Investments Singapore or any funds managed by Eastspring Investments Singapore. Whilst we have taken all reasonable care to ensure that the information contained in this document is not untrue or misleading at the time of publication, we cannot guarantee its accuracy or completeness. Past performance is no guide to future performance and the value of investments and income from them can fall as well as rise. Where included, benchmark and index data included in this document are provided for illustrative purposes only. The portfolio and/or services mentioned do not formally track any such benchmarks or indices and no representation is made as to relative future performance or tracking deviation. You should note that investing in financial instruments carries with it the possibility of losses and that a focus on above-market returns exposes the portfolio to above-average risk. Performance aspirations are not guaranteed and are subject to market conditions. Higher yielding investments can produce income at the expense of capital growth or the capital value of the investment. High volatility investments may be subject to sudden and large falls in value, and there could be a large loss on realization which could be equal to the amount invested. The performance of the composites shown herein reflects the deduction of standardized management fees and brokerage commissions. You should note that expenses incurred may be different in character and amount from those that will be incurred by the portfolio in the future. Note also that the performance reflects the reinvestment of interest and other earnings. The performance illustrations have not been audited. These materials are for informational and discussion purposes only. The financial data included in these materials is based upon information derived from public sources that are believed to be reliable, but Eastspring Investments Singapore does not guarantee its accuracy or completeness. Eastspring Investments Singapore does not undertake to update this information, and the portfolio composition shown as well as the results discussed may change without notice. The reference to specific securities herein does not constitute a recommendation that you should invest in those securities. Eastspring Investments Singapore and others associated with it may make markets or specialize in, have positions in and effect transactions in the securities that are now or may hereafter be included in the portfolio and may also perform or seek to perform investment banking services for the issuers of those securities. There is no assurance that these other activities will not adversely affect the performance of the investment strategies described in these materials. These materials do not constitute an offer to buy or sell any financial instrument or participate in any trading strategy. Eastspring Investments Singapore and/or its affiliates and employees have or may have a long or short position or holding in the securities, options on securities, or other related investments of issuers mentioned herein and may be providing or may have provided significant advice or investment services, including investment banking services, for any issuer mentioned in this report. Should you wish to receive further explanation or clarification on any of the content of this presentation including assumptions and methodology involved in the portfolio and benchmark construction and the results shown, please do not hesitate to ask your advisor. Eastspring Investments Singapore is an ultimately wholly-owned subsidiary of Prudential plc of the United Kingdom. Eastspring Investments Singapore and Prudential plc are not affiliated in any manner with Prudential Financial, Inc., a company whose principal place of business is in the United States of America /EASTSPRING/1013

INSIGHTS OPPORTUNITIES IN THE ASIAN HIGH YIELD SPACE. August 2013

INSIGHTS OPPORTUNITIES IN THE ASIAN HIGH YIELD SPACE. August 2013 INSIGHTS August 2013 OPPORTUNITIES IN THE ASIAN HIGH YIELD SPACE Leong Wai Mei is part of the Asian Fixed Income team and the fund manager for the Eastspring Investments - Asian High Yield Bond Investors

More information

ABF PAN ASIA BOND INDEX FUND An ETF listed on the Stock Exchange of Hong Kong

ABF PAN ASIA BOND INDEX FUND An ETF listed on the Stock Exchange of Hong Kong Important Risk Disclosure for PAIF: ABF Pan Asia Bond Index Fund ( PAIF ) is an exchange traded bond fund which seeks to provide investment returns that corresponds closely to the total return of the Markit

More information

EASTSPRING INVESTMENTS ASIA INVESTOR BEHAVIOUR STUDY 2015 INDONESIA. October 2015. eastspring.co.id

EASTSPRING INVESTMENTS ASIA INVESTOR BEHAVIOUR STUDY 2015 INDONESIA. October 2015. eastspring.co.id EASTSPRING INVESTMENTS ASIA INVESTOR BEHAVIOUR STUDY 2015 INDONESIA October 2015 eastspring.co.id 2 Asia Investor Behaviour Study 2015 - Indonesia Asia Investor Behaviour Study 2015 - Indonesia CONTENTS

More information

Separately managed accounts

Separately managed accounts FOR INSTITUTIONAL/WHOLESALE/PROFESSIONAL CLIENTS AND QUALIFIED INVESTORS ONLY - NOT FOR RETAIL USE OR DISTRIBUTION Separately managed accounts A J.P. Morgan Global Liquidity solution Separately managed

More information

GROWTH & INCOME INDEX 2013 MUTUAL FUND INVESTOR BEHAVIOUR STUDY HONG KONG

GROWTH & INCOME INDEX 2013 MUTUAL FUND INVESTOR BEHAVIOUR STUDY HONG KONG GROWTH & INCOME INDEX 201 MUTUAL FUND INVESTOR BEHAVIOUR STUDY HONG KONG October 201 CONTENT FOREWORD Foreword By Eastspring Investments Executive Summary The Growth & Income Index Investor Current and

More information

Franklin Asia Credit Fund

Franklin Asia Credit Fund Franklin Templeton Investment Funds Franklin Asia Credit Fund Fixed Income Fund Profile Fund Details Inception Date 17 November 2014 Investment Style Benchmark(s) Fixed Income JP Morgan Asia Credit Index

More information

Brandes Corporate Focus Fixed Income

Brandes Corporate Focus Fixed Income Fact Sheet / Through 31 December 2015 (currency reported in USD) Brandes Corporate Focus Fixed Income FIRM OVERVIEW Founded: 1974 Staff Total: 325 Investment Professionals: 53 Ownership: 100% Employee

More information

Legg Mason Western Asset Asian Opportunities Fund

Legg Mason Western Asset Asian Opportunities Fund PRODUCT KEY FACTS Legg Mason Global Funds Plc Legg Mason Western Asset Asian Opportunities Fund Issuer: Legg Mason Asset Management Hong Kong Limited January 2015 This statement provides you with key information

More information

Emerging Markets Fixed Income Capabilities

Emerging Markets Fixed Income Capabilities For professional investors Fixed Income Capabilities Opportunities in a market benefiting from strong fundamentals and increasing demand Fixed Income Capabilities I 2 BNP Paribas Investment Partners BNP

More information

Seeking a More Efficient Fixed Income Portfolio with Asia Bonds

Seeking a More Efficient Fixed Income Portfolio with Asia Bonds Seeking a More Efficient Fixed Income Portfolio with Asia s Seeking a More Efficient Fixed Income Portfolio with Asia s Drawing upon different drivers for performance, Asia fixed income may improve risk-return

More information

Practical aspects of implementing MiFID requirementsin GIPS compositereports

Practical aspects of implementing MiFID requirementsin GIPS compositereports GIPS and MiFID investmentreporting: Practical aspects of implementing MiFID requirementsin GIPS compositereports Zurich, November 15, 2007 Eugene Skrynnyk, UBS Wealth Management November 15, 2007 Agenda

More information

Product Key Facts. PineBridge Global Funds PineBridge Global Emerging Markets Bond Fund. 22 December 2014

Product Key Facts. PineBridge Global Funds PineBridge Global Emerging Markets Bond Fund. 22 December 2014 Issuer: PineBridge Investments Ireland Limited Product Key Facts PineBridge Global Funds PineBridge Global Emerging Markets Bond Fund 22 December 2014 This statement provides you with key information about

More information

HSBC Asian High Yield Bond Fund

HSBC Asian High Yield Bond Fund Important information: HSBC Asian High Yield Bond Fund (the Fund ) invests primarily in a broad range of higher yielding Asian fixed income securities and instruments. Investments of the Fund may include

More information

BlueBay Asset Management LLP Environmental, Social and Governance (ESG) Investment Risk Policy

BlueBay Asset Management LLP Environmental, Social and Governance (ESG) Investment Risk Policy BlueBay Asset Management LLP Environmental, Social and Governance (ESG) Investment Risk Policy INTRODUCTION This policy document outlines BlueBay Asset Management LLP s ( BlueBay ) approach to integrating

More information

Invesco Funds Series 1-5 Consolidated Prospectus

Invesco Funds Series 1-5 Consolidated Prospectus Invesco Funds Series 1-5 Consolidated Prospectus 26 November 2010 Invesco Funds Series 1 Invesco Funds Series 2 Invesco Funds Series 3 Invesco Funds Series 4 Invesco Funds Series 5 Each an open-ended umbrella

More information

(expenses that you pay each year as a percentage of the value of your investment)

(expenses that you pay each year as a percentage of the value of your investment) July 31, 2015 SUMMARY PROSPECTUS SAAT Core Market Strategy Allocation Fund (SKTAX) Class A Before you invest, you may want to review the Fund s prospectus, which contains information about the Fund and

More information

Fund Name Positions Here

Fund Name Positions Here Fund Name Positions Here U.S. Real Estate Securities At A Glance Inception: December 2008 Benchmark: MSCI U.S. REIT Philosophy We believe top-down analysis of economic property sectors combined with bottom-up

More information

Delaware Investments Global Real Estate Securities. Citywire Wealth Management Forum. Presented by:

Delaware Investments Global Real Estate Securities. Citywire Wealth Management Forum. Presented by: Delaware Investments Global Real Estate Securities Citywire Wealth Management Forum Presented by: Bob Zenouzi Senior Vice President Senior Portfolio Manager July 1, 2009 Delaware Investments is the marketing

More information

Unconstrained Fixed Income

Unconstrained Fixed Income Unconstrained Fixed Income A Dynamic and Flexible Approach to Fixed Income Investing 26th ANNUAL TEXPERS CONFERENCE Global Fixed Income & Liquidity Management March 2015 This material is provided for educational

More information

THE CASE FOR EMERGING MARKET CORPORATE BONDS October 2013

THE CASE FOR EMERGING MARKET CORPORATE BONDS October 2013 THE CASE FOR ERGING MARKET CORPORATE BONDS October 2013 THIS DOCUMENT IS FOR PROFESSIONAL CLIENTS AND INSTITUTIONAL/QUALIFIED INVESTORS ONLY. THE CONTENT IS NOT TO BE VIEWED BY, OR USED WITH, RETAIL INVESTORS.

More information

SUMMARY PROSPECTUS. TCW Emerging Markets Multi-Asset Opportunities Fund FEBRUARY 29 I SHARE: TGMAX N SHARE: TGMEX

SUMMARY PROSPECTUS. TCW Emerging Markets Multi-Asset Opportunities Fund FEBRUARY 29 I SHARE: TGMAX N SHARE: TGMEX TCW Emerging Markets Multi-Asset Opportunities Fund I SHARE: TGMAX N SHARE: TGMEX 20 6 FEBRUARY 29 SUMMARY PROSPECTUS Before you invest, you may want to review the Fund s Prospectus which contain more

More information

CIO Flash Revisions to our 2016 global outlook Jan 25, 2016

CIO Flash Revisions to our 2016 global outlook Jan 25, 2016 CIO Flash Revisions to our global outlook Jan 25, +++ CIO FLASH +++ CIO FLASH +++ CIO FLASH +++ CIO FLASH +++ CIO FLASH +++ CIO FLASH +++ CIO FLASH +++ CIO FLASH +++ CIO FLASH The global macro picture:

More information

Portfolio Bonds. Balanced Growth

Portfolio Bonds. Balanced Growth Portfolio Bonds Balanced Growth SALE PERIOD: 1 June 4 September 2015 INVESTMENT PERIOD: About 6 years REFERENCE ASSETS: 3 equity indices which represent the US, European and Pan Asian markets Portfolio

More information

Mortgage and Asset Backed Securities Investment Strategy

Mortgage and Asset Backed Securities Investment Strategy Mortgage and Asset Backed Securities Investment Strategy Traditional fixed income has enjoyed an environment of falling interest rates over the past 30 years. Average of 10 & 30 Year Treasury Yields (1981

More information

Morgan Stanley Institutional Fund Trust

Morgan Stanley Institutional Fund Trust INVESTMENT MANAGEMENT Morgan Stanley Institutional Fund Trust U.S. Equity Portfolios U.S. Mid Cap Value Portfolio U.S. Small Cap Value Portfolio Value Portfolio Prospectus Share Class and Ticker Symbol

More information

Commodities. Precious metals as an asset class. April 2011. What qualifies as an asset class? What makes commodities an asset class?

Commodities. Precious metals as an asset class. April 2011. What qualifies as an asset class? What makes commodities an asset class? Commodities Precious metals as an asset class April 2011 What qualifies as an asset class? Broadly speaking, an asset class is simply a grouping of assets that possess similar characteristics. Defining

More information

HSBC GIF Chinese Equity Fund

HSBC GIF Chinese Equity Fund For Investment Professionals only Investment Case Investment Team The Fund Summary The investment case 2 Investment case Why invest in the HSBC GIF Chinese Equity Strategy? Chinese economic growth at 7-8%

More information

Define your goals, we ll do the rest

Define your goals, we ll do the rest SUB-FUNDS OF GOLDMAN SACHS FUNDS, SICAV Define your goals, we ll do the rest The GS Wealthbuilder Multi-Asset Portfolios can help you achieve your goals, whether you are looking to preserve, enhance or

More information

HSBC Global Investment Funds. Global Fund Solutions

HSBC Global Investment Funds. Global Fund Solutions HSBC Global Investment Funds Global Fund Solutions Introduction At HSBC Global Asset Management, we bring you the best of what our multi-specialist investment teams have to offer. HSBC Global Investment

More information

Credit Suisse Portfolio Solutions. Personalized strategies to help you grow, preserve, and use your wealth

Credit Suisse Portfolio Solutions. Personalized strategies to help you grow, preserve, and use your wealth Credit Suisse Portfolio Solutions Personalized strategies to help you grow, preserve, and use your wealth 1 Credit Suisse Portfolio Solutions Personalized strategies to help you grow, preserve, and use

More information

Independent Thinking. The Changing Landscape for Wealth Management

Independent Thinking. The Changing Landscape for Wealth Management Independent Thinking The Changing Landscape for Wealth Management October 2015 1 Wealth Management Common Central Tenets Common central tenets to successful wealth management relationships: The Changing

More information

Jupiter Merlin International Equities Portfolio

Jupiter Merlin International Equities Portfolio Jupiter Merlin Funds Jupiter Merlin International Equities Portfolio Jupiter Asset Management Limited Product Key Facts April 2016 Product Key Facts This statement provides you with key information about

More information

Absolute return: The search for positive returns in changing markets

Absolute return: The search for positive returns in changing markets Absolute return: The search for positive returns in changing markets Tuesday, 7 June 2011 Portfolio Manager for Global Fixed Income and Absolute Return Funds www.dbadvisors.com Topics for discussion What

More information

HSBC Global Investment Funds Global High Yield Bond

HSBC Global Investment Funds Global High Yield Bond Important information: For certain classes of the Fund, the Fund may pay dividends out of capital or pay dividends gross of expenses. Investors should note that the payment of dividends out of capital

More information

Templeton Asian Bond Fund

Templeton Asian Bond Fund Franklin Templeton Investment Funds Templeton Asian Bond Fund Asian Fixed Income Fund Profile Fund Details Inception Date 25 October 2005 Investment Style Benchmark(s) Asian Fixed Income HSBC Asian Local

More information

Changes to the Product Disclosure Statement for:

Changes to the Product Disclosure Statement for: Changes to the Product Disclosure Statement for: FirstChoice Investments FirstChoice Personal Super FirstChoice Pension New Product Disclosure Statement: Issue No. 2013/1, dated 11 June 2013 Old Product

More information

JPMorgan Global Bond Fund. Global investing - A less volatile choice NEW. SFC-authorised global bond fund with RMB-hedged share classes*!

JPMorgan Global Bond Fund. Global investing - A less volatile choice NEW. SFC-authorised global bond fund with RMB-hedged share classes*! AVAILABLE FOR PUBLIC CIRCULATION NEW JPMorgan Global Bond Fund December 2015 Asset Management Company of the Year 2014 Fundamental Strategies, Asia + Important information 1. The Fund invests primarily

More information

Cash Management Group Solvency II and Money Market Funds

Cash Management Group Solvency II and Money Market Funds Cash Management Group Solvency II and Money Market Funds The opinions expressed are as of June 2012 and may change as subsequent conditions vary. Managing cash and short term investments is an essential

More information

The Credit Analysis Process: From In-Depth Company Research to Selecting the Right Instrument

The Credit Analysis Process: From In-Depth Company Research to Selecting the Right Instrument Featured Solution May 2015 Your Global Investment Authority The Credit Analysis Process: From In-Depth Company Research to Selecting the Right Instrument In today s low yield environment, an active investment

More information

LEGG MASON GLOBAL FUNDS PLC Riverside Two Sir John Rogerson s Quay, Grand Canal Dock, Dublin 2, Ireland

LEGG MASON GLOBAL FUNDS PLC Riverside Two Sir John Rogerson s Quay, Grand Canal Dock, Dublin 2, Ireland LEGG MASON GLOBAL FUNDS PLC Riverside Two Sir John Rogerson s Quay, Grand Canal Dock, Dublin 2, Ireland 5 March 2015 THIS DOCUMENT IS IMPORTANT AND REQUIRES YOUR IMMEDIATE ATTENTION. IF YOU ARE IN ANY

More information

Understanding Fixed Income

Understanding Fixed Income Understanding Fixed Income 2014 AMP Capital Investors Limited ABN 59 001 777 591 AFSL 232497 Understanding Fixed Income About fixed income at AMP Capital Our global presence helps us deliver outstanding

More information

AN INTRODUCTION TO ishares EXCHANGE TRADED FUNDS REPLACED

AN INTRODUCTION TO ishares EXCHANGE TRADED FUNDS REPLACED AN INTRODUCTION TO ishares EXCHANGE TRADED FUNDS IMAGE TO BE REPLACED What are ishares ETFs? ishares IS THE WORLD LEADER IN EXCHANGE TRADED FUNDS ishares exchange traded funds (ETFs) blend the benefits

More information

May 1, 2015 as amended June 1, 2015

May 1, 2015 as amended June 1, 2015 INSTITUTIONAL INVESTOR May 1, 2015 as amended June 1, 2015 DATE TARGET FUNDS MyDestination 2005 Fund MyDestination 2015 Fund MyDestination 2025 Fund MyDestination 2035 Fund MyDestination 2045 Fund MyDestination

More information

EATON VANCE HEXAVEST GLOBAL EQUITY FUND Supplement to Summary Prospectus dated December 1, 2015

EATON VANCE HEXAVEST GLOBAL EQUITY FUND Supplement to Summary Prospectus dated December 1, 2015 EATON VANCE HEXAVEST GLOBAL EQUITY FUND Supplement to Summary Prospectus dated December 1, 2015 1. The following replaces Fees and Expenses of the Fund : Fees and Expenses of the Fund This table describes

More information

Are we living in a Bond Bubble? Oliver Sinnott Fixed Income Strategist April 2014

Are we living in a Bond Bubble? Oliver Sinnott Fixed Income Strategist April 2014 Are we living in a Bond Bubble? Oliver Sinnott Fixed Income Strategist April 2014 Global Financial Crisis saw debt levels soar to highest since WWII Governments were too highly indebted to significantly

More information

SEI Japan Equity Fund As at 30th June, 2009

SEI Japan Equity Fund As at 30th June, 2009 Benchmark TOPIX Base Currency JPY Currencies Available EUR, GBP Fund Complex SEI Global Assets Fund PLC SEI Japan Equity Fund As at 30th June, 2009 SEI MANAGER OF MANAGERS PHILOSOPHY SEI employs a sophisticated

More information

Citadele Eastern European Bond Fund. February 2014

Citadele Eastern European Bond Fund. February 2014 Citadele Eastern European Bond Fund February 2014 Citadele Asset Management Government of Latvia EBRD Solid shareholder base Regulated by Financial and Capital Market Commission 75% 25% Citadele Bank MiFID

More information

Accessing the U.S. market through ETFs

Accessing the U.S. market through ETFs Accessing the U.S. market through ETFs Brian Roberts Vanguard Investments Hong Kong Limited 9 Jul 2015 For professional institutional use investors only. Not use for only. public Not distribution. for

More information

Emerging Markets Bond Fund Emerging Markets Corporate Bond Fund Emerging Markets Local Currency Bond Fund International Bond Fund

Emerging Markets Bond Fund Emerging Markets Corporate Bond Fund Emerging Markets Local Currency Bond Fund International Bond Fund PROSPECTUS PREMX TRECX PRELX RPIBX T. Rowe Price Emerging Markets Bond Fund Emerging Markets Corporate Bond Fund Emerging Markets Local Currency Bond Fund International Bond Fund May 1, 2016 A choice of

More information

Min. Investment Class A Units Initial: USD 1,000 Additional: USD 250

Min. Investment Class A Units Initial: USD 1,000 Additional: USD 250 Issuer: PineBridge Investments Ireland Limited Product Key Facts PineBridge Global Funds PineBridge Global Emerging Markets Bond Fund 22 February 2013 This statement provides you with key information about

More information

Strength Across the Board Investment Excellence in Fixed Income 30 June 2015

Strength Across the Board Investment Excellence in Fixed Income 30 June 2015 Strength Across the Board Investment Excellence in Fixed Income 30 June 205 Recognising the strength and depth of our Fixed Income range across Europe, the US and Emerging Markets CLASS I EUR Performance

More information

The UBS Core-Satellite investment approach Build wealth for the long term and make the most of your own investment ideas

The UBS Core-Satellite investment approach Build wealth for the long term and make the most of your own investment ideas The UBS Core-Satellite investment approach Build wealth for the long term and make the most of your own investment ideas StabiIity, opportunity and flexibility build the foundation for optimal results

More information

SUPPLEMENT TO THE CURRENTLY EFFECTIVE SUMMARY PROSPECTUS

SUPPLEMENT TO THE CURRENTLY EFFECTIVE SUMMARY PROSPECTUS SUPPLEMENT TO THE CURRENTLY EFFECTIVE SUMMARY PROSPECTUS Deutsche Global Real Estate Securities Fund Effective May 1, 2016, the following information replaces the existing disclosure contained under the

More information

Standard Chartered today releases its Interim Management Statement for the third quarter of 2015.

Standard Chartered today releases its Interim Management Statement for the third quarter of 2015. Standard Chartered PLC Interim Management Statement 3 November 2015 Standard Chartered today releases its Interim Management Statement for the third quarter of 2015. Bill Winters, Group Chief Executive,

More information

Effect of Rising Interest Rates on Fixed Income. Dominick DeAlto, Global Head, Multi-Sector Fixed Income

Effect of Rising Interest Rates on Fixed Income. Dominick DeAlto, Global Head, Multi-Sector Fixed Income Effect of Rising Interest Rates on Fixed Income Dominick DeAlto, Global Head, Multi-Sector Fixed Income Effect of Rising Interest Rates on Fixed Income I May 2015 I 2 Why Do Investors Allocate to Fixed

More information

Quantitative Portfolio Strategy

Quantitative Portfolio Strategy Quantitative Portfolio Strategy Lev Dynkin 201-524-2839 ldynkin@lehman.com Tony Gould, CFA 212-526-2821 agould@lehman.com CURRENCY HEDGING IN FIXED INCOME PORTFOLIOS Introduction Portfolio managers typically

More information

FTIF Templeton Global Bond Fund

FTIF Templeton Global Bond Fund FTIF Templeton Global Bond Fund The STRATEGY Investment Goal FTIF Templeton Global Bond Fund seeks to maximize total return, with a combination of interest income, capital appreciation and currency gains

More information

Investment Philosophy

Investment Philosophy Investment Philosophy Our unique approach to investment management puts you at the heart of everything we do Wealth and Investment Management Discover a new side to your personality: your investment self

More information

Bond Fund of the TIAA-CREF Life Funds

Bond Fund of the TIAA-CREF Life Funds Summary Prospectus MAY 1, 2015 Bond Fund of the TIAA-CREF Life Funds Ticker: TLBDX Before you invest, you may want to review the Fund s prospectus, which contains more information about the Fund and its

More information

The Coming Volatility

The Coming Volatility The Coming Volatility Lowell Bolken, CFA Vice President and Portfolio Manager Real estate Securities June 18, 2015 www.advantuscapital.com S&P 500 Percent Daily Change in Price September 2008 to April

More information

Equity Sell-off Continues, Bonds Affected

Equity Sell-off Continues, Bonds Affected Equity Sell-off Continues, Bonds Affected Executive Summary Portfolio Performance So Far The 1-month performance of all model portfolios have been affected by the recent sell-off in equities, with returns

More information

QE, Credit Markets and Bubbles

QE, Credit Markets and Bubbles Spring 2014 QE, Credit Markets and Bubbles David Zervos Chief Market Strategist dzervos@jefferies.com +1 212 323 7586 US Monetary Base 4.5 4 3.5 QE3 3 Trillion USD 2.5 2 QE2 1.5 QE1 1 0.5 Operation Twist

More information

ASIAN PORTFOLIO INVESTMENT ADVISORY

ASIAN PORTFOLIO INVESTMENT ADVISORY ASIAN PORTFOLIO INVESTMENT ADVISORY This Asian Portfolio Investment Advisory service is set up to assist international financial advisory and planning organizations to create dedicated Asian investment

More information

Navellier Tactical U.S. Equity Sector Plus

Navellier Tactical U.S. Equity Sector Plus Navellier Tactical U.S. Equity Sector Plus B-063014/NCD-14-846 www.navellier.com Tactical Series 1 U.S. Equity Sector Plus Navellier Tactical U.S. Equity Sector Plus Model a hypothetical example Hypothetical

More information

HFT (HK) CHINA INVESTMENT SERIES II HFT (HK) CHINA HIGH YIELD BOND FUND (the Sub-Fund )

HFT (HK) CHINA INVESTMENT SERIES II HFT (HK) CHINA HIGH YIELD BOND FUND (the Sub-Fund ) PRODUCT KEY FACTS HFT (HK) CHINA INVESTMENT SERIES II HFT (HK) CHINA HIGH YIELD BOND FUND (the Sub-Fund ) Issuer: HFT Investment Management (HK) Limited April 2015 This statement provides you with key

More information

A SEA CHANGE IN THE TECHNOLOGY INDUSTRY. Arthur Chai, Equity Analyst

A SEA CHANGE IN THE TECHNOLOGY INDUSTRY. Arthur Chai, Equity Analyst A SEA CHANGE IN THE TECHNOLOGY INDUSTRY Arthur Chai, Equity Analyst February 2013 THOUGHT LEADERSHIP SERIES Mobile Devices Power a Sea Change in the Technology Industry A new world order in the making

More information

Drobny Guest Research September 12, 2012

Drobny Guest Research September 12, 2012 Drobny Guest Research September 12, 2012 3701 Highland Ave, Suite 302, Manhattan Beach, CA 90266 andres@drobny.com (310) 545-6996 ------------------------------------------------------------------------------------------------------------

More information

Industrial and Commercial Bank of China Limited Dealing frequency: Daily on each business day *

Industrial and Commercial Bank of China Limited Dealing frequency: Daily on each business day * APRIL 2016 This statement provides you with key information about Income Partners RMB Bond Fund (the Sub-Fund ). This statement is a part of the offering document and must be read in conjunction with the

More information

Equity Derivatives and Structured Retail: Success Through Innovation. November 2010

Equity Derivatives and Structured Retail: Success Through Innovation. November 2010 Equity Derivatives and Structured Retail: Success Through Innovation November 2010 Agenda The Royal Bank of Scotland Structured Product Trends Integrated Approach Product Segments Client Engagement Online

More information

A guide to the Kames High Yield Bond Fund

A guide to the Kames High Yield Bond Fund www.kamescapital.com A guide to the Kames High Yield Bond Fund For professional investors only 1 What s in the Fund? The Fund invests primarily in high yield bonds. It can, however, hold some investment

More information

November 2012. Figure 1: New issuance (US$ billion) presents attractive opportunities

November 2012. Figure 1: New issuance (US$ billion) presents attractive opportunities November 2012 Emerging market corporate bonds attractive opportunities in a dynamic sector In a world where traditional fixed income investments, such as core government bonds, offer very low returns to

More information

Priority Senior Secured Income Fund, Inc.

Priority Senior Secured Income Fund, Inc. Priority Senior Secured Income Fund, Inc. This material is neither an offer to sell nor the solicitation of an offer to buy any security. Such an offer can be made only by prospectus, which has been filed

More information

Corporate Bond Strategy

Corporate Bond Strategy Corporate Bond Strategy FIRM OVERVIEW Established more than a decade ago by the former CIO of a major money manager and a research analyst in Buffalo, NY. $650 million in AUM for private clients, foundations,

More information

MLC MasterKey Unit Trust Product Disclosure Statement (PDS)

MLC MasterKey Unit Trust Product Disclosure Statement (PDS) MLC MasterKey Unit Trust Product Disclosure Statement (PDS) Preparation date 1 July 2014 Issued by MLC Investments Limited (MLC) ABN 30 002 641 661 AFSL 230705 This information is general and doesn t take

More information

Fund Name Positions Here

Fund Name Positions Here Fund Name Positions Here Global Real Estate Securities At a Glance Inception: June 2011 Benchmark: FTSE EPRA/NAREIT Global Real Estate Philosophy We believe top-down analysis of geographic regions and

More information

CIO Flash Chinese equities: what happens next? July 8, 2015

CIO Flash Chinese equities: what happens next? July 8, 2015 CIO Flash Chinese equities: what happens next? July 8, 2015 +++ CIO FLASH +++ CIO FLASH +++ CIO FLASH +++ CIO FLASH +++ CIO FLASH +++ CIO FLASH +++ CIO FLASH +++ CIO FLASH +++ CIO FLASH Market falls force

More information

Mixed Results During a Challenging Year

Mixed Results During a Challenging Year 6 January 2009 Short-Term Technical FX Global FX Strategy George Davis, CMT Chief Technical Analyst Dominion Securities Inc. +1 416 842 6633 george.davis@rbccm.com Mixed Results During a Challenging Year

More information

Sprott Global REIT & Property Equity Fund

Sprott Global REIT & Property Equity Fund Sprott Global REIT & Property Equity Fund Sprott Global REIT & Property Equity Fund Investment Objective The investment objective of the Fund is to provide stable monthly cash distribution and long-term

More information

Federated Emerging Market Debt Fund

Federated Emerging Market Debt Fund Summary Prospectus January 31, 2016 Share Class A B C Institutional Ticker IHIAX IHIBX IHICX EMDIX Federated Emerging Market Debt Fund A Portfolio of Federated World Investment Series, Inc. Before you

More information

Signature Perspectives US Multi-Sector Fixed Income

Signature Perspectives US Multi-Sector Fixed Income Signature Perspectives US Multi-Sector Fixed Income Signature Securities Portfolios US Multi-Sector Fixed Income As of 31 March 2012 Performance Review Investment Objective Seeks growth through capital

More information

Invesco Fixed Income Invesco Active Multi-Sector Credit Fund

Invesco Fixed Income Invesco Active Multi-Sector Credit Fund Invesco Fixed Income Invesco Active Multi-Sector Credit Fund This marketing document is exclusively for use by Qualified Investors in Switzerland, Professional Clients and Financial Advisers in other Continental

More information

Explore the Field of Mutual Funds

Explore the Field of Mutual Funds Wealth Management Education Series How can we help you further? Do you have a question on what you have just read? Would you like to have a further discussion on this subject? Contact your Relationship

More information

HSBC World Selection Funds April 30, 2016. Monthly Factsheets Class A and C Shares. Investment products: ARE NOT A BANK ARE NOT DEPOSIT OR

HSBC World Selection Funds April 30, 2016. Monthly Factsheets Class A and C Shares. Investment products: ARE NOT A BANK ARE NOT DEPOSIT OR HSBC World Selection Funds April 30, 2016 Monthly Factsheets Class A and C Shares Aggressive Strategy Fund Balanced Strategy Fund Moderate Strategy Fund Conservative Strategy Fund Income Strategy Fund

More information

Spectrum Insights. Bond and stock market around the same size Australian bonds vs Australian stock market

Spectrum Insights. Bond and stock market around the same size Australian bonds vs Australian stock market Market capitalization $b Spectrum Insights Damien Wood, Principal JUNE 9, 2015 Corporate bonds often provides investors with an income stream that is above deposit rates, but less risky than dividends

More information

MML SERIES INVESTMENT FUND

MML SERIES INVESTMENT FUND This Prospectus describes the following Funds. MML SERIES INVESTMENT FUND MML Money Market Fund seeks to maximize current income, preserve capital and maintain liquidity by investing in money market instruments.

More information

ETF providers panel: A discussion of advisor experiences

ETF providers panel: A discussion of advisor experiences In association with ETF providers panel: A discussion of advisor experiences Moderator: Jonathan Morgan, ASX Panelists: Mark Oliver, BlackRock Amanda Skelly, SSgA Peter Harper, Betashares Paul Chin, Vanguard

More information

ishares Product Overview Q2 2015

ishares Product Overview Q2 2015 ishares Product Overview Q2 2015 About BlackRock BlackRock is a global leader in investment management, risk management and advisory services for institutional and retail clients. At September 30, 2015,

More information

The Chinese University of Hong Kong

The Chinese University of Hong Kong Member Review for The Chinese University of Hong Kong 8 & 9 March 2007 0 Agenda Fidelity Your Reliable Retirement Partner Portfolio Review Performance Market Review & Outlook Member Services 1 Fidelity

More information

Highlights of 1H FY2015 Results. November 18, 2015

Highlights of 1H FY2015 Results. November 18, 2015 Highlights of 1H FY2015 Results November 18, 2015 Table of Contents 1. Trend of business results 3. Domestic life insurance Summary of 1H FY2015 results 3 Overview of 1H FY2015 results Himawari Life 27

More information

Deutsche Latin America Equity Fund (formerly DWS Latin America Equity Fund)

Deutsche Latin America Equity Fund (formerly DWS Latin America Equity Fund) Summary Prospectus February 1, 2015 Deutsche Latin America Equity Fund (formerly DWS Latin America Equity Fund) Class/Ticker A SLANX B SLAOX C SLAPX INST SLARX S SLAFX Before you invest, you may want to

More information

Brown Advisory Strategic Bond Fund Class/Ticker: Institutional Shares / (Not Available for Sale)

Brown Advisory Strategic Bond Fund Class/Ticker: Institutional Shares / (Not Available for Sale) Summary Prospectus October 30, 2015 Brown Advisory Strategic Bond Fund Class/Ticker: Institutional Shares / (Not Available for Sale) Before you invest, you may want to review the Fund s Prospectus, which

More information

T. Rowe Price International Bond Fund T. Rowe Price International Bond Fund Advisor Class

T. Rowe Price International Bond Fund T. Rowe Price International Bond Fund Advisor Class T. Rowe Price International Bond Fund T. Rowe Price International Bond Fund Advisor Class Supplement to Prospectuses Dated May 1, 2015 In section 1, the portfolio manager table under Management with respect

More information

PIMCO Funds. Disclosure Related to PIMCO Emerging Markets Bond Fund and PIMCO Global Advantage Strategy Bond Fund (the Funds )

PIMCO Funds. Disclosure Related to PIMCO Emerging Markets Bond Fund and PIMCO Global Advantage Strategy Bond Fund (the Funds ) PIMCO Funds Supplement Dated April 11, 2014 to the PIMCO International Bond Funds Institutional Class, Class P, Administrative Class, Class D, Class A, Class B, Class C and Class R Prospectus dated July

More information

Emerging Markets Equity

Emerging Markets Equity Fact Sheet as of March 31, 2016 Emerging Markets Equity FIRM OVERVIEW Founded: 1974 Staff Total: 317 Investment Professionals: 52 Ownership: Employee-owned Investment Style: Value Investment Process: Bottom-up

More information

Managing Risk/Reward in Fixed Income

Managing Risk/Reward in Fixed Income INSIGHTS Managing Risk/Reward in Fixed Income Using Global Currency-Hedged Indices as Benchmarks In the pursuit of alpha, is it better to use a global hedged or unhedged index as a benchmark for measuring

More information

Session 5b Aging Asia 5b.1) Aging Asia: Asset Rich, Income Poor? Key risks to retirement income security and investment implications

Session 5b Aging Asia 5b.1) Aging Asia: Asset Rich, Income Poor? Key risks to retirement income security and investment implications Session 5b Aging Asia 5b.1) Aging Asia: Asset Rich, Income Poor? Key risks to retirement income security and investment implications Michael Dommermuth 26/06/2014 Sourced: Manulife Asset Management 1 Aging

More information

This study concludes that Asian investors would benefit from greater global diversification.

This study concludes that Asian investors would benefit from greater global diversification. The buck role of stops global here: Vanguard equities for money Asian market investors funds Vanguard research November 2014 Scott Pappas, Ryan Rich This study concludes that Asian investors would benefit

More information

State Street Target Retirement Funds - Class K

State Street Target Retirement Funds - Class K The State Street Target Retirement Funds - Class K (the "Funds") represent units of ownership in the State Street Target Retirement Non-Lending Series Funds. The Funds seek to offer complete, low cost

More information

Market Making for Exchange Traded Funds. Corporates & Markets

Market Making for Exchange Traded Funds. Corporates & Markets Market Making for Exchange Traded Funds Corporates & Markets Commerzbank your trusted partner in the ETF market Since the start of the new millennium, exchange traded funds (ETFs) have experienced phenomenal

More information

INVESTMENTS FOR LIVING. Introducing Lifestyle Portfolios

INVESTMENTS FOR LIVING. Introducing Lifestyle Portfolios INVESTMENTS FOR LIVING Introducing Lifestyle Portfolios I WANT INVESTMENTS THAT GIVE ME FLEXIBILITY AND CHOICE Lifestyle Portfolios from Lloyds Bank International help you keep pace with the ever-changing

More information