Fung did not quantify the level of redemptions from these China-exposure funds but told delegates attending the Asia Risk
2008 conference in Hong Kong that bond funds are still offering a yield of about 5%. He added that, given the outlook for a stable and possibly appreciating renminbi against the Hong Kong dollar, bond funds should continue to perform well. Hang Seng Bank, a subsidiary of HSBC, launched bond fund investments in May this year.
Hang Seng Bank and others created bond funds using t