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Wealth management platform LU Hong Kong has formed a strategic partnership with China’s Bosera Asset Management, launching a bond fund via LU’s mobile app.
The Bosera Orient Sun Rise Greater China Fund, as it is called, is using an online retail avenue for the first time. LU Hong Kong wants to introduce more fund products over its channel in due course. The LU HK mobile app, which is aimed at Hong Kong customers, and was launched on 8 August, offers automated wealth management services via mobile devices.
The fund can be allocated in offshore and onshore markets to capture investment opportunities centred on Chinese bonds. Its Class A Hong Kong dollar shares have been launched on the LU HK app.
Almost 10 fund managers have partnered with LU Hong Kong, including E Fund HK, Allianz Global Investors, Franklin Templeton Investments and Bosera Funds, LU HK said in a statement last Friday.
“Amidst an overall environment of low growth and low interest rates across global markets, the Chinese economy has shown greater resilience, and Chinese assets have become core holdings of many investors,” He Kai, director of fixed income investment of Bosera International, said.
“The Bosera Orient Sun Rise Greater China Bond Fund launching on [the] LU HK platform has recorded outstanding long-term performance and is able to select the best investment targets across markets. It is an ideal choice for investors looking to invest in Chinese bonds," He Kai added.
LU Hong Kong is a subsidiary of Lufax Holding.