Bank of China (Hong Kong), World Bank launch cooperative bond fund

By Tali David

Minneapolis, June 12 - The Bank of China (Hong Kong) Ltd. and the World Bank announced the launch of the BOCHK - World Bank Emerging Markets Bond Fund, according to a press release.

The Bank of China said the fund is the inaugural cooperative venture of this type between the bank and the World Bank and will be the first global emerging market currency bond fund in Hong Kong with a China theme.

At least 85% of the fund's net asset value will be invested in World Bank debt securities denominated in the currencies of China's trading partners in emerging markets and commodities countries.

"By combining the unique strengths of both institutions, the fund highlights our shared belief in innovation. We are committed to continuing to expand our distribution network for this fund in Asia," Bank of China deputy chief executive David Wong said in the release.

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