| Asian Bond Fund 2 Local market managers |
|
| Single market fund |
Manager |
| ABF China Bond Index Fund |
China Asset Management |
| ABF Hong Kong Bond Index Fund |
HSBC Investments |
| ABF Indonesia Bond Index Fund |
PT Bahana TCW |
| ABF Korea Bond Index Fund |
Samsung Investment Trust |
| ABF Malaysia Bond Index Fund |
AmInvestment Management |
| ABF Philippines Bond Index Fund |
Bank of the Philippine Islands |
| ABF Singapore Bond Index Fund |
DBS Asset Management |
| ABF Thailand Bond Index Fund |
Kasikorn Asset Management |
| Source: Asia Bond Fund | |
Fund managers for the nine new funds launched under the auspices of the Asian Bond Fund 2 initiative (ABF2) have been selected. ABF2 is the latest stage in a co-operative project launched by 11 central banks and monetary authorities in the East Asia and Pacific region designed to promote the development of regional bond markets. By investing in local currency bond issues, the region's central bankers hope to reduce dependence on the US dollar debt markets that caused such difficulties during the 1997-8 Asian financial crisis.
ABF2 comprises a $2 billion commitment, with $1 billion invested in the ABF Pan-Asian Bond Index Fund, a single bond fund that will invest in sovereign and quasi-sovereign local currency issues and will be managed by State Street Global Advisors Singapore.