Suppose that your group is managing a bond portfolio of around US$50 million in a licensed asset

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Question:

Suppose that your group is managing a bond portfolio of around US$50 million in a licensed asset management firm in Hong Kong. The portfolio simply invests in various bond funds. Your boss wants your group to review and analyze the following bond funds and recommend an investment strategy for the next 12 months. Your clients, mostly institutional investors of Hong Kong and China Mainland, generally wish to tolerate low-medium risk and to get an annual return of 5% to 8%.

BlackRock Global Funds - China Bond Fund A2 (LU0679941327)
Fidelity Funds - Euro Bond Fund A-MDIST-EUR (LU0168050333)
HSBC Investment Funds Trust - HSBC Asian Bond Fund AM2 USD (HK0000349529)
iShares Short Treasury Bond ETF (SHV)
iShares TIPS Bond ETF (TIP)
PIMCO Emerging Markets Bond Fund (PEMDX)
PIMCO Long-Term US Government A (PFGAX)
Vanguard High-Yield Corporate Inv (VWEHX)

Your boss expects to listen to your analysis of each of the above funds and to your final recommendation on which bond funds to invest. Preferably you should choose no more than three bond funds for investment. Your choices should be supported with sound rationale.