Schroder ISF Asian Local Currency Bond A Acc USD

The Sub-Fund aims to provide capital growth and income in excess of the iBoxx Asian Local Currency Bond index after fees have been deducted over a three to five year period by investing in Asian fixed income securities denominated in local currencies.

iFAST Research Team
iFAST Research Team09 Sep 2026 12 Views
Schroder ISF Asian Local Currency Bond A Acc USD
2026 | 2025 | 2024 | 2023

  • The fund managers focus on balancing maximising yields and ensuring the high credit quality of the fund.
  • The team targets investment returns over a medium-term horizon and employs a combination of top-down and bottom-up strategies. In doing so, the fund adds value across interest rates, currencies and credits.
  • The fund is benchmark-aware and seeks to outperform the Markit iBoxx Asian Local Bond Index (ALBI). The fund had a duration of 6.5 years as of 31 March 2026.
  • The fund holds a diversified portfolio across Asian local currency bond markets, currently overweight RMB, SGD, IDR, and JPY against underweights in USD and HKD, reflecting differing monetary policy cycles and fiscal dynamics across the region.
  • Looking ahead, the team expects the fund to benefit from a weaker USD and improving technicals, as index inclusions and under-allocation to Asian local currency bonds position the asset class to attract structural inflows from global investors.

Fund Investment Style

Source: Bloomberg Finance L.P., iFAST Compilations
Monthly total returns including gross dividends in SGD terms as of 31 Mar 2026

Recommended fund

3-year Annualised return

3-year Maximum drawdown

3-year Downside deviation

3-year Risk-returnratio

Schroder ISF Asian Local Currency Bond A Acc USD

0.1%

-13.0%

2.9%

-0.82

Peer Average

2.6%

-19.3%

2.9%

0.11

Source: Bloomberg Finance L.P., iFAST Compilations
Monthly total returns including gross dividends in SGD terms as of 31 Mar 2026

About the Fund Managers

The fund is managed by Chow Yang Ang, Asian Macro Portfolio Manager and Lead Portfolio Manager, following Julia Ho's departure from the team in February 2026 after 14 years at Schroders. Chow Yang Ang has managed the fund since 2008 and has 27 years of investment experience. He also leads several other Schroders funds, including Schroder ISF Asian Bond Total Return, Schroder China Fixed Income, Schroder Singapore Fixed Income, Schroder Hong Kong Money Market, and Schroder US Dollar Money. The Asian Fixed Income team has 25 individuals based in Singapore, Hong Kong, Shanghai, and Taipei.

The team adopts a team-based approach to investment to minimise key man risk. It targets investment returns over a three to five year period, combining top-down and bottom-up research. The fund aims to provide capital growth and income in excess of the iBoxx Asian Local Currency Bond Index.

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