Picking through the wreckage of Asian real estate
1 May, 2008Asiamoney Top 10: transportation (includes Orient Overseas and Thai Thoresen profiles)
1 May, 2008Smart Investor magazine, Up To Speed column, May 2008
New Fund
Aberdeen Core Plus Fixed Income Fund
What is it?
It’s a diversified fixed income fund – more diversified, and a bit more risky, than the norm.
What does it invest in?
Domestic bonds (the core of the fund), plus global credit, emerging markets debt, high yield, and fixed income macro strategies such as currency and interest rates.
Aren’t global credit markets in a complete mess?
Yes, but they are paying a high return; a skilled manager can probably make some very good returns in this environment but they also run the risk of being side-swiped by the credit crunch.
Who runs it?
Aberdeen Asset Management, which recently took over a range of funds from Deutsche Asset Management. Bill Bovingdon, who is CEO of Aberdeen in Australia and runs Australia fixed income, is ex-Deutsche.
What does it aim to do?
Beat the UBS Composite Bond index by 1.5% a year.
How much?
Management expense ratio is capped at 0.55%; minimum investment amount is $20,000.
