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The Largest Fixed Income ETF in the Region1

Launched in 2005, the ABF Pan Asia Bond Index Fund (PAIF) pioneered the Asian fixed income ETF industry. It provides an innovative, easy-to-access and cost-efficient solution to invest in a diversified portfolio of Asian local currency government and quasi-government bonds in one single trade.

10 Facts About PAIF

1. PAIF is the first regional Asian local currency bond ETF2. It is the largest fixed income ETF in the region1.

2. In 2005, PAIF was launched as part of an important initiative by Asia Pacific's 11 leading central banks and monetary authorities to strengthen the region's bond markets.

3. PAIF is benchmarked to the Markit iBoxx ABF Pan-Asia Index.

4. PAIF invests in the sovereign and quasi-sovereign local currency bonds of eight major Asian economies, including China, Hong Kong, Indonesia, Korea, Malaysia, Philippines, Singapore and Thailand.

5. Domiciled in Singapore, PAIF was listed in Hong Kong in 2005 (SEHK stock code: 2821) and cross-listed in Japan in 2009 (TSE stock code: 1349).

6. PAIF has delivered positive returns in 12 out of the past 16 calendar years3.

7. Offering easy and low-cost access to Asia's local bond markets, PAIF allows investors to diversify their portfolios with around 400 local currency bonds in one single trade4.

8. PAIF's portfolio has an average credit quality of A+4.

9. China's local bonds comprise around 25% of PAIF's exposure4, which allows the fund to benefit from the gradual opening up of China's bond market and the inclusion of Chinese bonds in global indices.

10. PAIF is a crucial part of the initiative to develop Asia's local bond markets. It started to participate in securities lending in June 2018 to deepen secondary market liquidity.

Why Invest in Asian Local Currency Bonds?

Favourable Risk-Return Profile

Potential for Additional Yield via Local Currency Appreciation

A 'Back to Basics' Diversified Portfolio Construction Strategy

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