DBS has further strengthened its partnership with Capital Group by offering the Global Corporate Bond fund to its retail and high-net-worth clients in Singapore and Hong Kong. The $2 billion fund, which is domiciled in Luxembourg, will be available for direct investment through DBS's app and branch network. This collaboration builds on the success of Capital Group's New Economy global equity fund, which was made accessible to DBS clients in 2020. Capital Group has also recently partnered with Deutsche Bank to offer its Multi-Sector Income fund to the German institution's private bank clients.
Capital Group, one of the world’s largest active asset managers, has partnered with DBS to distribute its Capital Group Global Corporate Bond Fund (GCB) to clients in Singapore and Hong Kong. DBS' personal banking, Treasures, and private banking clients will now be able to make direct investments to the fund. GCB invests in corporate investment grade bonds worldwide and is designed for long-term stability. DBS will also distribute Capital Group New Economy Fund, a global equity fund focused on growth and innovation. Grant Leon, Head of Financial Intermediaries, Asia and Europe, Capital Group, stated that fixed income has generated superior returns to cash as Fed rate hikes near an end. Hou Wey Fook, Chief Investment Officer, DBS, believes that high starting yields in bonds today indicate strong future returns and recommends investors stay invested and deploy excess cash into bonds. DBS will distribute Capital Group Global Corporate Bond Fund (LUX) and Capital Group New Economy Fund (LUX).
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