Smartshares bond fund reduces Chinese exposure

Smartshares has scaled down its exposure to Chinese bonds by switching from one Bloomberg index to another. The NZX-owned fund manager’s third biggest fund – its global government bond exchange-traded fund – has reduced its exposure to Chinese-denominated securities from 8.5% to 0.5%.In a Dec 1 announcement, Smartshares chief executive Anna Scott said: “The scaled version is more representative of a developed market exposure, with a minimal exposure to emerging markets.”The market index for the fund will chang...