Paris-headquartered company BNP Paribas Asset Management (BNPP AM) has reshuffled its BNP Paribas Flexi I Bond Asia Investment Grade fund, InvestmentEurope can reveal.
Effective 18 June 2018, the fund’s strategy will move towards a global emerging market investment grade bond approach and will be rebranded BNP Paribas Flexi I Bond World Emerging Investment Grade.
Currently the €120.1m fund managed by Bryan Carter (since August 2017) invests two-thirds of its net assets in investment grade bonds and other securities of financial issuers based or doing most of their business in the Asia-Pacific region. It cannot invest in bonds with a rating below BBB- or Baa3.
This part of the fund investment strategy will change on 18 June 2018 as two-thirds of its net assets will be exposed to investment grade bonds and other securities issued by emerging market governments (non OECD members as of January 1994 as well as Turkey and Greece) and companies headquartered or whose most business is achieved in one of these countries.
The remaining third will still be invested in other fixed income instruments including convertible bonds, money market bonds and derivatives.