MAS in the International Arena

BOX 14
DEVELOPING A REGIONAL BOND MARKET

MAS worked with fellow central bankers of the Executives' Meeting of East Asia - Pacific Central Banks (EMEAP) on the successful launch of Asian Bond Fund 2 (ABF2).

ABF2, comprising a Singapore-domiciled Pan-Asian Bond Index Fund (PAIF) and eight country sub-funds, marks a further chapter in the development of Asia's local currency bond markets. The PAIF will be initially listed in the Hong Kong Stock Exchange and domiciled in Singapore. This is testament to the successful growth and development of Singapore as a fund management centre in Asia.

Together with ABF1, ABF2 will draw greater investor awareness, including from outside Asia, to the investment opportunities in Asian bonds. They will also deepen the pool of Asian debt market expertise here. Such regional initiatives complement our bond market development efforts and add to the significant strides made in the growth of our domestic bond market and fixed income fund management activities.