The Eurizon SLJ Aggregate Bond RMB (Renminbi) Strategy offers exposure to the world’s second largest bond market. It invests in a diversified set of Renminbi-denominated debt instruments traded on the China Interbank Bond Market or in other regulated markets in China and Hong Kong.
Overview
• We focus on the most liquid and highly rated bonds in our universe. Our risk aware approach aims to deliver growth over the medium to long term.
• Our diverse team have a deep understanding of the culture, policies and market they invest in. All team members, whilst based in London, are Mandarin speakers having lived and worked in China.
• We have a research led approach which is based on our original macroeconomic research. Our understanding of economic mega trends, currencies and the place China has in global markets is complimented by our active bottom up analysis.
Investment Approach
Our process blends a top-down global macro perspective, with a tactical, bottom-up approach that selects better risk-reward portfolio constituents within the universe that fits the global macro views.
Our research aims to identify those global factors across currency, business and policy cycles that we believe are the major determinants for the Emerging Markets risk appetite, which ultimately define the appropriate relative exposure in terms of global duration and FX exposure for the strategy. The portfolio construction is based on a 3-pillars approach.
Investment approach
Research led
We blend a top-down global macro perspective, with a tactical, bottom-up approach that selects better risk-reward portfolio constituents within the universe that fits the global macro views.
Local knowledge
Whilst based in London, our managers are all Chinese Mandarin speakers, having lived, studied or worked in China and Taiwan. Our understanding of the cultural nuances, policy decisions and local perspectives represents a strategic advantage.
Focused on quality
and liquidity
Our risk aware style draws our focus to the most liquid and highly rated parts of our universe.
A highly diverse team of China specialists
The investment team, based in London, is highly diverse in terms of cultural, social and professional background. Given the unique and multi-faceted nature of the Chinese economy, the team adopts a holistic approach to the management of the strategy, where everyone contributes their diverse perspective and experience (fixed income, FX, DM and EM credit). Our main portfolio managers are Chinese Mandarin speakers, having lived, studied or worked in China and Taiwan. This represents a strategic advantage not only in accessing local information and intel but also in understanding the reasons behind Chinese policy decisions.
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