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China Bond Fund

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China Bond Fund

UCITS Fund | Fixed Income

China Bond Fund

SFDR Classification | Article 8

Overview
Provides exposure to opportunities in China via bonds issued in onshore local currency markets using an active, total return approach

Why Invest

Focus and Opportunity

Aims to generate return through interest rate positioning and credit exposure from a diversified set of RMB-denominated bonds, with ability to invest opportunistically in RMB offshore instruments

A Robust, Active Research Process

Combines bottom-up analysis and integration of ESG factors into the fund’s fundamental investment analysis with a top-down asset allocation framework

Experienced, Stable and Well-Resourced Team

Managed by a well-established investment team with a long-term track record in managing EMD strategies and a multi-site set-up to ensure local perspective is incorporated

This is a marketing communication in respect of the Neuberger Berman China Bond Fund. Please refer to the fund prospectus and offering documents, including the Key Information Document (“KID”) or Key Investor Information Document (“KIID”) as applicable, before making any final investment decisions. Investors should note that by making an investment they will own shares in the fund, and not the underlying assets.

The fund complies with the Sustainable Finance Disclosure Regulation (the “SFDR”) and is classified as an Article 8 SFDR fund. Neuberger Berman believes that Environmental, Social and Governance (“ESG”) factors, like any other factor, should be incorporated in a manner appropriate for the specific asset class, investment objective and style of each investment strategy.

Key Risks

Market Risk: The risk of a change in the value of a position as a result of underlying market factors, including among other things, the overall performance of companies and the market perception of the global economy.

Liquidity Risk: The risk that the fund may be unable to sell an investment readily at its fair market value. In extreme market conditions this can affect the fund’s ability to meet redemption requests upon demand.

Emerging Markets Risk: Emerging markets are likely to bear higher risk due to a possible lack of adequate financial, legal, social, political and economic structures, protection and stability as well as uncertain tax positions which may lead to lower liquidity. The NAV of the fund may experience medium to high volatility due to lower liquidity and the availability of reliable information, as well as due to the fund's investment policies or portfolio management techniques.

Interest Rate Risk: The risk of interest rate movements affecting the value of fixed-rate bonds.

Credit Risk: The risk that bond issuers may fail to meet their interest repayments, or repay debt, resulting in temporary or permanent losses to the fund.

Single Country Risk: Where a fund invests primarily in a single country, it may be subject to greater risk and above average market volatility than an investment in a broader range of securities covering multiple countries.

Counterparty Risk: The risk that a counterparty will not fulfil its payment obligation for a trade, contract or other transaction, on the due date.

Operational Risk: The risk of direct or indirect loss resulting from inadequate or failed processes, people and systems including those relating to the safekeeping of assets or from external events.

Derivatives Risk: The fund is permitted to use certain types of financial derivative instruments (including certain complex instruments). This may increase the fund’s leverage significantly which may cause large variations in the value of your share. Investors should note that the fund may achieve its investment objective by investing principally in Financial Derivative Instruments (FDI). There are certain investment risks that apply in relation to the use of FDI. The fund’s use of FDI can involve significant risks of loss.

Concentration Risk: The fund's investments may be concentrated in a small number of investments and its performance may therefore be more variable than the performance of a more diversified fund.

QFII Risk: The fund’s ability to make the relevant investments or to fully implement or pursue its investment objective and strategy is subject to the applicable qualified foreign institutional investor laws, licensing status, rules and regulations (including restrictions on investments and repatriation of principal and profits) in the People’s Republic of China, which are subject to change and such change may have potential retrospective effect, as well as inherent risks associated with illiquidity and execution of settlement of securities transactions in the Chinese securities market. Additional risks needs to be considered and you should refer to the 'investment risk' section of the prospectus for details.

Currency Risk: Investors who subscribe in a currency other than the base currency of the fund are exposed to currency risk. Fluctuations in exchange rates may affect the return on investment. Where past performance is shown it is based on the share class to which this webpage relates. If the currency of this share class is different from your local currency, then you should be aware that due to exchange rate fluctuations the performance shown may increase or decrease if converted into your local currency.

 

For full information on the risks please refer to the fund prospectus and offering documents, including the KID or KIID, as applicable.

PERFORMANCE AND EXPOSURES
ESG
Fund Facts

The ongoing charge figure (incl. management fee) is based on the annual expenses for the period ending 31 December 2022.

The fund’s benchmark name shown here may be abbreviated. Please refer to the supplement for the full benchmark name.

PORTFOLIO MANAGEMENT TEAM
Rob Drijkoningen
Senior Portfolio Manager and Global Co-Head of Emerging Markets Debt - Head of Fixed Income Europe
33 Years of Industry Experience
10 Years with Neuberger Berman
Gorky Urquieta
Senior Portfolio Manager and Global Co-Head of Emerging Markets Debt
29 Years of Industry Experience
10 Years with Neuberger Berman
Peter Ru
Deputy General Manager of Investment
29 Years of Industry Experience
6 Years with Neuberger Berman
Rob Drijkoningen, Senior Portfolio Manager and Global Co-Head of Emerging Markets Debt - Head of Fixed Income Europe

Rob Drijkoningen, Managing Director, joined the firm in 2013. Rob is a Co-Head of the Emerging Markets Debt team and Senior Portfolio Manager responsible for over $24.5 bn in AuM in EMD¹ and 34 investment professionals. Rob joined the firm after working at ING Investment Management for almost 18 years, most recently as the global co-head of the Emerging Markets Debt team responsible for managing over $16 billion in assets. In 1990, Rob began his career on the sell-side at Nomura and Goldman Sachs, after which he became senior investment manager for global fixed income at ING Investment Management. In 1997 he became global head of the Emerging Markets Debt team and in 2004 was named global head of the Emerging Markets Debt and High Yield teams. From 2007 through 2009 Rob created and led ING Investment Management’s Multi-Asset Group in Europe, managing mandates across asset classes including fixed income, equities, real estate and commodities. In 2009 he was appointed global head of emerging markets for both emerging markets equity and debt strategies. Rob earned his Macro-Economics degree from Erasmus University in Rotterdam and has authored numerous articles on emerging markets debt subjects. He is a member of DSI.

1. As of June 30, 2020

Gorky Urquieta, Senior Portfolio Manager and Global Co-Head of Emerging Markets Debt
Gorky Urquieta, Managing Director, joined the firm in 2013. Gorky is a Portfolio Manager and Co-Head of the Emerging Markets Debt team. He joined the firm from ING Investment Management where he was most recently global co-head of EMD, responsible for global emerging markets debt external and local currency strategies. Gorky joined ING in 1997 as a member of Emerging Markets Investors, a hedge fund manager affiliated with ING Furman Selz Asset Management, where he conducted analysis of sovereign and corporate bonds and loans, local currency investments and equities. Previously, Gorky worked at Dart Container Corporation where he was part of a research and trading team active in emerging and developed markets. He obtained a BA in Business Administration from the Bolivian Catholic University in La Paz, Bolivia, and a Master’s degree in Finance from the University of Wisconsin.
Peter Ru, Deputy General Manager of Investment
Peter Ru, PhD, Managing Director, joined the firm in 2017. Peter is a Senior Portfolio Manager on the Emerging Markets Debt team and China Fixed Income Strategy Leader, based in Shanghai. He is responsible for overseeing the firm’s China onshore fixed income efforts and managing RMB strategies for domestic and international clients. Peter has extensive experience in China's capital markets, having previously worked as CIO for Galaxy Fund Management, Shanghai HFT Fortune A.M., Invesco Great Wall F.M. and Morgan Stanley Hua Xin FM. Prior to his time in China, Peter worked in the US in various senior capacities managing strategies in asset classes such as US-Treasuries, core, core plus and US Mortgages – most notably with Morgan Stanley Investment Management, servicing Central Banks amongst others. Peter received a BS in Physics from Fudan University, a MS in Business from Carnegie Mellon’s Tepper School of Business and his PhD in Physics at Drexel University.
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