Nov
10
China Fund That Gained 24% on Bonds Sees Substantial Correction
By-
IPO restart, tighter year-end liquidity to push up yields
-
HFT Pure Bond Fund ranked first among 270 bond funds in 2015
An executive who oversees China’s top bond fund, which returned 24 percent in the first nine months, predicts a “substantial correction” in riskier debt as the restart of initial public offerings drives money back into shares.
Cash that piled into lower-rated notes after a stock rout in June is likely to return to equities, according to Shao Jiamin, head of fixed income investment at HFT Investment Management Co. in Shanghai. HFT Pure Bond Fund ranked No. 1 among 270 peers this year through Sept. 30, according to Haitong Securities Co….
China Fund That Gained 24% on Bonds Sees Substantial Correction
