Global equity markets have rallied this year, but two-thirds of fund sales in Hong Kong are in fixed income products.

Global equity markets have rallied this year, but two-thirds of fund sales in Hong Kong are in fixed income products.
Bill Maldonado, chief investment officer at HSBC Global Asset Management, has questioned defensive strategies as these names have become expensive in the last 12 months.
The phased addition of China government bonds (CGBs) into Bloomberg’s leading benchmark index has so far failed to boost RMB dedicated fixed income funds.
The bank has become increasingly cautious on the asset class due to concerns driven by the trade dispute.
The stragglers are funds focussed on Asia where the Sino-US trade conflict has taken the greatest toll on asset prices.
The private bank is the latest wealth manager to essentially steer neutral, but recommend a tilt toward portfolio protection.
Fixed income and high-dividend-paying stocks provide investors some downside protection in a late economic cycle, according to the firm’s chief market strategist.
A weakening global economy and declining corporate earnings have turned Robeco SAM’s fixed income strategy defensive, according to the firm’s Singapore CEO.
A majority of Schroders’ global credit income fund is invested in investment grade bonds.
The wealth manager also gives a sneak peek of what is inside its “Asia Leaders” discretionary mandate.
Part of the Mark Allen Group.