Everbright Dynamic Bond Fund

Introduction

Everbright Dynamic Bond Fund is tailored for professional investors with USD assets. The fund seeks stable absolute return through investment primarily in offshore Chinese corporate securities including investment-grade, high yield and convertible bonds. Leverage and derivative could be employed to enhance yield and control risks.

Investment Philosophy

  • We believe there are inefficiencies in the offshore Chinese corporate debt markets arising from investor emotions, market complexities and conflicting institutional constraints
  • We combine fundamental credit and economic insights with proprietary quantitative research in seeking to exploit such inefficiencies

Investment Strategy

  • Tactical asset allocation across investment grade, high yield and convertible bonds
  • Chinese corporates focus but may selectively diversify into other Asian names
  • Diversification across industrial sectors and issuers
  • Prudent use of leverage to enhance yield
  • Currency overlay to monetize implied carry and capture potential appreciation
  • Potential use of hedging against systematic risks

Our Edges

  • Cross-border asset management platform and research network
  • Experienced investment team
  • Yang Ping

    Chief Investment Officer

    Mr. Yang Ping is the Chief Investment Officer and a Member of Management Decision Committee of the Group. He is in charge of the Asset Management business of Secondary Market Investment of the Group. Previously, he was responsible for the establishment, investment and management of Macquarie Everbright Greater China Infrastructure Fund, Everbright Ashmore China Real Estate Fund and venture capital funds. Before joining the Group, Mr. Yang served as Head of the Research Institute of China Southern Securities Co. Ltd. and a private equity fund in China, where he was responsible for macro-industry and company research and investment of private equity funds, and achieved excellent performance. The restructuring project Xiang Zhong Yi (now renamed as Hunan Investment) led by Mr. Yang was the first ST listed company “full restructuring” case in China and was selected in Top Ten Influential Restructuring Case of 1999 by Securities Times. He obtained a Doctoral degree in Economics from the Graduate School of Shanghai Academy of Social Sciences and a Bachelor’s degree in Laws from East China University of Political Science and Law. He has over 21 years’ experience in securities research and asset management. Mr. Yang joined the Group in December 2007.

  • Will Chung

    Managing Director, Head of Fixed Income & Quantitative Investments

    Mr. Will Chung is currently the Lead Portfolio Manager for Dynamic Bond Fund, Dynamic Alpha Fund and Head of Fixed Income and Quantitative Investment teams. He has significant expertise in strategic and tactical asset allocation, as well as quantitative securities selection. Both Everbright Dynamic Bond Fund and Dynamic Alpha Fund have delivered outstanding absolute return since inception three years ago despite volatile market environments. Prior to Everbright, Will served as Head of Public Investment for a major Chinese investment office where he was responsible for multi-strategy absolute return investments across major asset classes. Before that, Will was the former Head of Tactical Asset Allocation at Shin Kong Life where he oversaw an US$35 Billion of global multi-asset class portfolios and piloted a Pan-Asia Quantitative Multi-Factor Equity portfolio. Shin Kong Life received “Institutional Investor of the Year” at “The 2006 Asian Investor Achievement Awards”.

    Mr. Chung served as Board Director and Academic Chairperson of Taiwan CFA Society from 2007 to 2008 and graduated with Beta Gamma Sigma Honour from Columbia University with an MBA in Finance.

  • Girish Kumarguru

    Managing Director, Portfolio Manager

    Girish Kumarguru has over 15 years’ experience spanning investments, proprietary trading, credit rating, and credit risk management. Girish has been a Portfolio Manager with China Everbright Limited since July 2012. Previously, Girish worked as a trader at the Principal Strategies Group (PSG) at ABN Amro / RBS, and in the Convertible Bond trading desk at RBS. Prior to that, he was a hedge fund credit risk analyst at ABN AMRO. Girish worked as a senior credit analyst at CRISIL (now, an S&P subsidiary) in Mumbai (India). Girish has a Masters of Technology (M.Tech.) in Mechanical Engineering from Indian Institute of Technology (IIT) Bombay with specialization in Operations Research and Management; and a PGDBM (Finance) from XLRI, Jamshedpur (India). Girish holds Chartered Financial Analyst (CFA), Financial Risk Manager (FRM), and Chartered Alternative Investment Analyst (CAIA) certifications.

Secondary Market Funds

Tel (852) 2530 8426
Fax (852) 2861 2803
Email InvestorServices@everbright.com
Address 9/F, Far East Finance Centre, 16 Harcourt Road, Hong Kong