Investec sees rush to bond funds

In these troubled times, fixed-income funds sell like hotcakes in Hong Kong.

Investec Asset Management reports Hong Kong retail investors are snapping up its fixed-income funds in the wake of sagging global economies.

It began marketing a US dollar high-yield bond fund earlier this year and has seen demand in Hong Kong rise $1 million per week for the past two months, says Stewart Aldcroft, managing director.

It is selling better than any of our equities funds, he says. It is suitable for this falling interest-rate environment. The same goes for euro and other dollar-denominated fixed-income products, he adds.

Paul Griffiths, head of fixed income in London, says the likely scenario in the United States is for the Federal Reserve Bank to cut interest rates by...

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