American asset manager Capital Group announced that it has introduced the Capital Group American Balanced Fund to Hong Kong investors, with Bank of China (Hong Kong) as its exclusive distributor.
The fund is a part of the Capital Group American Balanced strategy, which was initially incepted in 1975 with assets under management of around $196.3bn as of end March.
The fund aims to take a balanced approach to both growth and income and currently invests between 50% and 75% in equities.
The remaining fixed income portion generally invests in investment grade bonds, according to the fund factsheet.
“Managed by an experienced investment team, this fund strives to deliver a balance of growth, income and capital conservation, helping clients navigate various market changes and achieve long-term investment returns,” said Joyce Leung, assistant general manager for personal digital banking product department at BOCHK.
“We are delighted to team up with BOCHK to bring one of the largest and most established US multi-asset strategies to investors in Hong Kong,” said Toby Chan, head of client group Hong Kong and Greater China at Capital Group.
“BOCHK has the largest branch network, diversified service channels and extensive experience in supporting clients in their wealth management and investment journeys,”
The fund is managed by 12 fund managers, with an average investment experience of 28 years and 22 years with the asset manager.
As of end of March, the fund now holds 53.5% in US equities, 29.0% in US bonds, 7.6% in non-US equities, 6.5% in cash and equivalents and 3.4% in non-US bonds.
Capital Group has $464.5bn in asset under management in multi-asset funds and manages three of the four largest multi-asset funds in the world.
It has had a presence in Asia for the last 40 years and has offices in Sydney, Tokyo, Hong Kong, Singapore, Shanghai and Mumbai.