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Credit Suisse launches China credit bond fund for A-rated managers

Credit Suisse launches China credit bond fund for A-rated managers

Credit Suisse has launched China credit bond fund, Citywire Switzerland can reveal. 

The new strategy, which is formally called the Credit Suisse (Lux) China RMB Credit Bond fund, will invest mainly in onshore RMB-denominated corporate and financial bonds on interbank bond market and exchanges.

It will be run by Citywire A-rated Adrian Chee, head of portfolio management and credit, Asia, and Lei Zhu, deputy head of porfolio management, fixed income Asia.

Both Chee and Zhu are members of the emerging markets strategy group at Credit Suisse and joined the firm in 2012. Both have more than 10 years of experience in the industry. 

The benchmark of the new fund is ChinaBond New Composite Bond Index. The strategy will consist of 80 to 100 positions.

Credit Suisse is making a China credit push off-the-back of the economic reforms in the country and future inclusion of Chinese equity and bond markets in major global indices, which could boost demand for Chinese securities.

Chee and Zhu already oversee the CS (Lux) Asia Corporate Bond Fund BH CHF and CS (Lux) Asia Local Currency Bond Fund BH CHF funds.

The bigger of the two, the CS (Lux) Asia Corporate Bond fund, returned 10.84% in Swiss franc terms over the last three years till the end of July. Its benchmark, Cust Index CS JPM Asia Credit ex Sov 1-10 Y CHFH, returned 7.97% over the same timeframe. 

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