Markets

A.  Why we are not fans of Asian public credit markets investing ? 

-0.39%
  -0.39%
  8.97%
  6.48%
  6.44%
-0.60%
  -0.60%
  5.91%
  4.53%
  5.61%
-15.23%
-15.23%
0.99%
1.09%
7.17%
Bloomberg US Aggregate  Baa Index
Bloomberg Asia ex-Japan USD Credit Corporate IG Index
Bloomberg Asia ex-Japan USD Credit Corporate HY Index
Year to Date
1 Year
3 Years (Annualized)
5 Years (Annualized)
10 Years (Annualized)
 Data as of 31st December 2021 

Asian public credit markets offer no risk premium, rather they offer a risk discount compared to developed market credits (both Investment Grade and High Yield).

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This is primarily due to frequent episodic and idiosyncratic credit events that lead to underwhelming returns for investors focused solely on Asian credits.

B.  Sanchi Credit Opportunities Fund (SCOF) has low correlation with public credit markets - both ETF's and Indices (Developed and Asian markets)

Bloomberg US Aggregate  Baa Index
Bloomberg Asia ex-Japan USD Credit Corporate IG Index
Bloomberg Asia ex-Japan USD Credit Corporate HY Index
iShares iBoxx Investment Grade ETF
Fund correlation (1 Year)
-0.29
-0.34
-0.01
0.29
Fund correlation (since inception)
0.35
0.33
0.30
0.31
 Data as of 31st December 2021 
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