Malaysia-based Eastspring Investments Berhad has unveiled launched a new bond fund, the Eastspring Investments Target Income Fund 3.
The three -year close-ended fund aims to provide semi-annual regular income stream with a potential bonus coupon payment upon the maturity of the fund.
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Called Eastspring Investments Target Income Fund 3, the new fund is the third in a series of the firm’s target income funds.
Managed by Eastspring Investments (Singapore), the new fund aims to provide income twice a year, of up to 4.50% on a per annum basis.
Additionally, the fund aims to repay capital upon maturity as it consists of a diversified portfolio of local and foreign bonds with hedged foreign currency exposure to mitigate volatility of currency movements.
Lynn Cheah, CEO of Eastspring Investments Berhad, said: "While the equities markets have improved compared to previous years, we find that Malaysian investors still seek regular income at yields which are potentially higher than fixed deposits.
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By GlobalData"Keeping this need in mind, we are launching the Fund which aims to capture the best yield opportunities in multiple fixed income assets through our rigorous internal credit rating process. It is ideal for investors with moderate risk tolerance, who seek competitive yields and regular income with a 3-year investment horizon."
