China RMB Bond

The strategy seeks to maximize total return from a combination of income generation and capital appreciation by investing primarily in fixed-income securities issued by the Chinese government, agencies, supranational organizations, and corporate securities listed in mainland China.

 

Philosophy

China is among the world’s largest bond markets, one that offers attractive real yields relative to developed markets and is supported by robust long-term economic fundamentals. The team believes consistent, attractive, risk-adjusted returns can be generated in China’s bond market by pursuing a risk-controlled investment approach that leverages our extensive proprietary research capability on the ground. 

Managed by

Paula Chan, CMT

Senior Portfolio Manager, Asia ex-Japan Fixed Income

Paula is responsible for the firm’s on- and off-balance-sheet Hong Kong dollar and renminbi bond portfolios. She also oversees fixed-income investments in Taiwan and liaises with the firm’s onshore China joint ventures, Manulife TEDA, and Manulife Sinochem to ensure comprehensive coverage of the Greater China bond market. Prior to joining the firm, she was a money market and proprietary trader with Barclays Capital and Standard Chartered Bank Hong Kong, with a focus on interest-rate and foreign exchange trading specializing in Hong Kong dollar and currencies of the Group of Seven countries. She holds the Chartered Market Technician designation.

  • Education: M.B. in banking and finance, Monash University
  • Joined the company: 2008
  • Began career: 1998
Paula Chan, CMT

Vehicles

At Manulife Investment Management, we offer investment strategies through a variety of vehicles to suit a broad range of client needs. Contact our institutional sales or consultant relations team to find out if this strategy/vehicle is offered in your region. 

  • Separate accounts

    Our separate accounts and separately managed accounts (SMAs) are designed for institutions and high-net-worth clients seeking tailored investment solutions and direct ownership of securities. 

  • CITs

    Our professionally managed collective investment trusts (CITs) are available in certain qualified retirement plans.

  • Mutual funds

    Mutual funds are liquid, professionally managed portfolios which are available to both institutional and retail investors.


Key facts

  • Inception date

    December 2010

  • Strategy AUM (USD)

    $354.13 million

  • Benchmark

    Markit iBoxx ALBI China Onshore Bond (1 - 10 years) Index

  • Style

    Core

  • Expected tracking error

    1% to 2%

  • Average portfolio manager experience

    22 years

Important disclosures

All information shown is as of September 30, 2020, unless otherwise indicated. Strategy-level information may differ from vehicle-specific information. Not all vehicles are available in all locations and may be offered through affiliates of Manulife Investment Management.


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China fixed income: a safe haven asset in uncertain times?

The COVID-19 crisis illustrated the low correlation between China bonds and other fixed-income assets, positioning the asset class as a potential safe haven in times of volatility.
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