The managing director/CEO, regional head of RHBGAM, Eliza Ong, said:
KUALA LUMPUR: RHB Group Asset Management (RHBGAM) launched RHB China Bond Fund, a feeder growth fund to BlackRock Global Funds - China Bond Fund or target fund.
The fund aims to maximise total returns by investing at least 95% of the net asset value in the target fund.
The managing director/CEO, regional head of RHBGAM, Eliza Ong, said: “We target to achieve a subscription of funds of approximately RM100mil by the end of 2019.”
The target fund principally invests in renminbi-denominated fixed income and non-renminbi denominated securities issued by entities whose core businesses are in China.
The target fund may invest in the full spectrum of available fixed income transferable securities, including non-investment grade in both onshore and offshore China bond markets.
By working closely with BlackRock, both parties can expand the former's distribution and product capabilities, thus enabling investors’ access to market trends and capitalise on the investment opportunities available in China across different asset class.
RHBGAM is a unit of RHB Investment Bank Bhd and offers both conventional and Islamic products with asset under management (AUM) of RM49.29bill (US$11.90bil) as at May 31, 2019.
Ong said through this fund, investors would be able to tap on the opportunities and potential of the China market, capitalising on China’s growth as one of the fastest growing economies in Asia.
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