PETALING JAYA: RHB Group Asset Management (RHBGAM) is targeting to achieve fund subscription of RM100 million by the end of the year for its newly launched China Bond Fund.
It is a feeder growth fund that invests at least 95% of the net asset value in BlackRock Global Funds – China Bond Fund.
RHBGAM managing director and CEO Eliza Ong said the partnership with BlackRock demonstrates its commitment to expand investors’ access to other markets and various asset class.
“Through this fund, investors will 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. We target to achieve a subscription of funds of approximately RM100 million by the end of 2019.”
The target BlackRock funds primarily invest in renminbi-denominated fixed income and non-renminbi denominated securities issued by entities with predominant economic activity in China.
The fund was launched in May this year with five currencies classes, namely ringgit class, ringgit-hedged class, renminbi class, US dollar-hedged class and Australian dollar-hedged class.
RHBGAM offers both conventional and Islamic products with asset under management of RM49.2 billion as at May 31.
