HSBC launches first UK retail Indian bond fund

HSBC Global Asset Management has announced plans to launch an Indian bond fund, giving UK retail investors access to the market for the first time.

The HSBC GIF India Fixed Income fund will launch next week, managed by the group's Asian fixed income team, with Gordon Rodrigues lead manager. Rodrigues is the group's head of Asian rates, foreign exchange and liquidity. The fund will aim to match the underlying net yield of the domestic bond market, which currently stands at 8.38%. The new product will sit in HSBC's Luxembourg-based Global Investment Fund (GIF) range. HSBC said although the Indian bond market is under-developed compared to its economy, it has the potential to grow substantially over the next decade. The gro...