Hong Kong-based GaoTeng Global Asset Management has launched its first Dublin-based Ucits fund.
The GaoTeng Penguin Asian High Yield Fund has selected Lemanik as the management company, while Brown Brothers Harriman has been appointed as the fund administrator and Walkers as legal counsel.
The fund aims to achieve total return from a combination of income and capital by investing in Asia’s high-yielding sovereign, quasi-sovereign, bank and corporate debt markets.
“Global markets have weathered unprecedented turmoil due to spread of Covid-19 during the past two months,” said Desmond How, head of fixed income at GaoTeng and the fund’s manager.“Meanwhile we would like to seize the resultant investment opportunities in the region,” added How. “It is a superb entry point for investors to lock in income as well as to capture capital gain.”GaoTeng Global Asset Management is owned by Tencent and Hillhouse Capital Group.
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