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Asset owner survey: turning more cautious on HKD bonds
There is continued appetite for this asset class as a portfolio tool for investors to achieve specific goals such as matching liabilities and avoiding currency risk. But greater choice, more liquidity and higher yields are in growing demand.
Amid lingering doubts over global economic growth and geopolitical stability in 2020, certain Asia-based asset owners continue to derive various benefits from holding Hong Kong dollar (HKD) bonds.
The biggest drawcards – mostly for locally-based insurance companies – include asset-liability matching, investing with low (or perhaps nil) currency risk, and accessing high-quality issuers.
This was among the key take-aways from an exclusive survey conducted in November and December …
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