OPM Fund Management is exploring the theme of Asian bonds within its £41m fixedincome fund of funds.
OPM has been active in the management of its fixed-income fund and believes it is more strategic than some of its peers in the IMA sterling strategic bond sector, which do not hold US and emerging market debt.
OPM’s interest in Asian bonds is being played out through the Legg Mason Western Asset Asian opportunities fund.
The Dublin-domiciled fund is managed for Legg Mason by fixed-income specialist Western Asset Management. It invests in Asian bonds and derivatives on Asian interest rates and currencies, with holdings selec-ted following an analysis of sectors, individual issues, duration – which measures the sensitivity of the bond price to interest rate changes – and maturity.
OPM fund manager Ross Henderson says: “The Legg Mason Asian bond is interesting and long-term currency appreciation could add to the return.”