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Singapore’s Artradis to launch Asian Convertible Bond Fund

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Singapore-based alternative asset manager Artradis Fund Management, which currently has more than USD4bn in assets under management, has annouced it will launch the Artradis Asian Converti

Singapore-based alternative asset manager Artradis Fund Management, which currently has more than USD4bn in assets under management, has annouced it will launch the Artradis Asian Convertible Bond Fund on November 1.

The fund will be opportunistic, largely focused on buying cheap convertible bonds in Asia including Japan. Initially the fund will not deploy leverage and assets will be held in custodian accounts to minimise counterparty risk.

‘Despite our expectations that Asian economies will continue to slow in 2009, the global deleveraging and ongoing credit shortage have created compelling value in a number of Asian convertible bonds where the underlying companies are, in general, better positioned to weather the economic slowdown,’ says Artradis managing director Julian Ings-Chambers.

‘However, it will be important to match the fund’s assets with its liabilities, as the current mismatch in the asset class has helped to create this opportunity.’ The fund will have a two-year lock-up and is initially targeting USD500m in assets under management.

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