The second-largest life insurer in Taiwan cuts its allocation to China bonds and raises its exposure to North America.
Capital continued flowing into China's onshore bond market last year, despite trade tensions and a depreciating yuan, a survey has found. Such allocations are expected to rise further.
Citi says mainland debt is now eligible for its EM and regional government bond indexes, but has not given a time frame for inclusion, sparking more debate among fund managers.
The Chinese asset manager is looking to feed demand from its parent insurance firm for foreign private assets, and Australia is attracting more interest amid uncertainty over the UK and US.
The hedge fund giant and three other asset managers – Aberdeen, AllianzGI and BNP Paribas Investment Partners – have been approved to trade China's interbank bond market.
International fund houses have received further clarity on investments into China's interbank bond market, say sources, but central banks remain the biggest drivers of fast-rising inflows.