The fund was launched last autumn to replicate a capability previously only open to US-based clients.

Allspring Global Investments, a US asset management house, has inked a deal with Nomura’s international wealth arm to distribute a fund to private banking clients in Singapore and Hong Kong.

Nomura has chosen the Allspring Global Income Fund for the distribution effort, Allspring said in a statement late last week. Allspring managed more than $600 billion in assets under advisement, as of 31 March. 

The fund was launched in October last year to mirror a capability used by US-based investors. It seeks to deliver returns through a high level of current income and long-term capital growth. It invests into a diversified, multi-sector fixed income universe and employs a flexible approach to asset allocation across global fixed income markets.

Allspring’s fixed income team – which, in total, oversees $39 billion of assets – runs the fund.

“While Allspring is a newer name in the market, they have a long heritage and deep expertise, especially in multi-sector fixed income. The Allspring Global Income Fund addresses the growing appetite for reliable income solutions among investors in the region,” Connie Sin, head of funds and alternatives at Nomura’s International Wealth Management business, said.

Priscilla Phoon, head of financial institutions (Asia ex Japan) at Allspring Global Investments, added: “We launched our Global Income Fund due to the demand from Asian clients and because we have a distinctive capability that can add real value to client portfolios. This flagship offering has a long-term track record of compelling risk-adjusted returns meeting the needs of investors looking for attractive income and diversification across the fixed income sectors.”