Aberdeen Asset Management has launched an Indian Bond fund and an Asian Credit fund to broaden its range of fixed income funds investing in Asia.
The Aberdeen Global Indian Bond fund aims to invest in a portfolio of local currency corporate and quasi-sovereign bonds, while the Aberdeen Global Asian Credit fund will allocate mainly to investment grade hard currency issues across the region, as well as some high yield. The group will be seeding both funds from internal allocations "as a sign of confidence", with the Indian bond fund holding around $60m at inception, and the Asian credit fund seeded with around $10m. The new funds will be managed by 18-strong team of Asia Pacific fixed income analysts, headed up by Victor Rodrigue...
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