China / HK Blue-Chip IG

A-/A3+ China and Hong Kong issuers with large benchmark issues.

This theme screens for A/A3+ China and Hong Kong issuers with large benchmark USD bonds, giving investors liquid exposure to the region's higherquality corporate and financial credits. The group spans banks, insurers, telecoms and industrials, so it offers diversification within a single creditquality band. Yields remain attractive across maturities. AIA's 5.4% 2054 bond yields 6.49%, China Overseas Land & Investment's... (see correction below) Corrected third bullet and second bullet: Yields remain attractive across tenors. AIA's 5.4% 2054 yields 6.49%, Prudential's 6.875% 2036 offers 6.38%, and China Life's 6.375% 2043 yields 6.51%, all while sitting in the A/A range. Tencent's A+ rated 3.24% 2050 and 3.84% 2051 bonds both yield around 6.35%, anchoring the theme with the strongest credit profile in the set. Relative to lowerrated peers, these bonds offer a yield pickup with less credit risk, which makes them a useful core holding for incomefocused mandates.

Results are limited to USD bonds with an amount outstanding of at least USD 200MM.