In 2024, the JP Morgan Asia Credit Non-Investment Grade Index continued to build on its positive total return with the index up by 16.1% year-to-date (as of November 8), outperforming both US and European high yield (HY) indexes.1 The high total return has been driven by spread tightening across various sectors aside from just the real estate sector, as evidenced in Table 1.
Table 1 – JP Morgan Asia Credit Non-Investment Grade Index return attribution by sector
Source: JP Morgan, Aladdin, data as of 8 November 2024. Past performance is no guarantee of future results. An investment cannot be made directly in an index.
