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Fixed Income

Leading Position in Fixed Income Investment

In April, 2003, China Southern became the first fund manager in China to set up a specialized fixed income investment department.

China Southern is the first to set up a credit research team among Chinese asset managers and has been the first asset manager to rate credit bonds by industries among peer fund companies since 2010.

China Southern has launched the 1st bond fund (China Southern Baoyuan), the 1st principal-protected fund (China Southern Risk Avoidance), one of the 1st batch money market funds in China (China Southern Cash Income).

As of 30 June 2018, China Southern managed 42 fixed income funds with AUM around RMB 365.21 billion.

Largest Fixed Income Investment Team in China

There are 70 members within China Southern’s fixed income team, including 21 portfolio managers with average work experience of over 5.8 years, and 24 research analysts with average work experience of over 3.9 years.

Top-notch Credit Research Capability

Full coverage of newly issued bonds by the the Credit Rating Team comprising 14 members.

“Double Review” rating model ensures the quality of credit rating.

The current internal rating system categorizes all credit bonds into 7 major sectors and 5 major regions.

Against the backdrop of increasing bond defaults in recent years, the fixed income portfolios with AUM over RMB 400 bn have not incurred any credit bond default so far.