The Global Corporate Bond (GCB) fund will be launched across the global private banking, wealth management and retail client segments in several markets, noted the .

“We are delighted to deepen our relationship with HSBC as Capital Group celebrates 50 years of fixed income investing,” said Mike Gitlin, global head of fixed income, Capital Group. “While markets have been challenged over the last few years, the return of income to fixed income means that investors can benefit from putting cash to work in high quality bonds with attractive yield for potential future income.”

The Luxembourg-domiciled GCB Ucits fund was launched in 2018 and provides diversification across markets and greater liquidity, said the press release. The fund is managed by Capital International Management Company (CIMC) and is organised as a Sicav, or an investment company with variable capital.

“We are pleased to be working with Capital Group to offer our clients access to its Global Corporate Bond Fund (LUX),” said Annabel Spring, chief executive of HSBC global private banking & wealth. “This fund firmly aligns with our CIO view to focus on quality bonds, where current yields are at a decade high and we are nearing the end of the Fed’s tightening cycle.”

As of 31 March 2023, Capital Group has approximately $2.3trn in assets under management