Asia United Bank, one of the country’s fastest-growing banks, expressed optimism its Gold Dollar Fund would continue to benefit from
AUB senior vice president and head of trust Andrew Chua made the statement after accepting the “Best Managed Fund” in the Dollar Medium-Term Bond Fund category for the AUB Gold Dollar Fund at the CFA Society Philippines’ 2023 Best Managed Funds of the Year Awards held recently.The Gold Dollar Fund enables retail investors access to the US dollar bond market normally reserved for foreigners and high net worth investors.
“With US interest rates expected to peak this year, the fund will continue to benefit from the higher accruals on outstanding investments as a result of the higher interest rate environment and will potentially book gains on its marked-to-market with the tapering of interest rates by next year,” Chua said.
“Given the US Fed closing in on the end of the rate hiking cycle, the fund will be gradually increasing its duration while maintaining safe and diversified securities as well as hold sufficient cash to manage liquidity risk,” Chua said.
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