PRNewswire
Mumbai (Maharashtra) [India], February 16: Fixed Income Tactical Opportunities Fund (FITOF), a USD medium-term fixed-income fund, managed by Singapore-based SCUBE Capital has been ranked as the top performing USD fixed-income fund by Bloomberg. The firm outperformed global majors such as Prudential, Nomura, Invesco, Eastspring, Fullerton among funds focused on Asian countries such as China, India, Indonesia, and Vietnam.
At the end of a one-year period as of January 30, 2024, Bloomberg highlighted that FITOF recorded total returns of 13.78%, outperforming it's China-focused peer by 109.9 basis points. SCUBE's Medium Duration Opportunities Fund (MDOF), a close-ended USD medium-term fixed-income fund, which recorded 10.35% one-year total returns was ranked at No. 3 by Bloomberg.
This recognition is a strong endorsement of the investment expertise of SCUBE Capital, its disciplined investment process and its expertise of local credit markets. While SCUBE funds invest in high-quality USD bonds the preference has been for Indian bonds over other geographies.
Commenting on the feat, Hemant Mishr, Co-Founder and CIO, SCUBE Capital, said: "We are bullish on India, and SCUBE's top position endorses the team's conviction in the India growth story and the strong macro advantages. Key to our investment thesis is a rotation away from China into India given India's strong multi-decadal macro drivers."
"The triple whammy of deflationary risk, defaults by major Chinese companies like Evergrande, Country Garden and unfavourable geopolitics will continue to weigh on China investor confidence. Juxtaposed against this India has strong structural tailwinds and Indian companies have strong balance sheets having undergone significant deleveraging over the past decade," adds Hemant.
"We are delighted to be recognised for our commitment to assist our investors to achieve their investment goals. We will continue to apply our wealth of on-ground expertise of the local markets to generate superior returns for our clients. Our vision is to serve as the bridge for global investors looking out for the Asia & India experts," said Balaji Swaminathan Co-Founder & CEO, SCUBE Capital.
About SCUBE Capital [ https://scubecapital.com/ ]
SCUBE is a global fund management company domiciled in Singapore and regulated by the Monetary Authority of Singapore (MAS). We are a strong and dedicated team of internationally experienced experts delivering institutional investment expertise to client. Our team has managed investments of over USD50 billion in our previous roles and has a cumulative experience of over 70 years in Asian Fixed Income. We are a Solutions driven firm that understands the nature and scope of client's dynamic investment challenges.
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