AXA IM unveils China short duration bond fund

Managed by Honyu Fung

AXA Investment Managers has launched the AXA World Funds China Short Duration Bonds fund, aiming to provide investors with exposure to China's €7trn bond market.

Managed by Honyu Fung, senior portfolio manager on the Asian fixed income team at AXA IM, the fund takes a bottom-up approach, investing in bonds with an average rating of BBB+ while limiting holding duration to less than three years. The reason for the shorter duration, the firm said, was to mitigate volatility from changes in interest rates, enabling the manager to have a higher conviction and higher yielding positions in the portfolio. The AXA IM short duration range includes ten strategies with over €25bn in assets under management globally. The charge on the clean retail share...