The way I am approaching the different channels that we sell into is to bring them something that is completely and utterly differentiate from that the perception of China currently is. Everyone thinks that it is the Wild East of the financial world in terms of risk. It is a very wealthy country. It is the wealthiest among EM countries.

We could have gone to market and filed prospectuses and brought to the people the big markets in China, that would have given them coverage to the Shanghai and Shenzen markets. We could have put it in a mutual fund. It would have been great. It would have been flashy.  We didn't do that, because I am trying to bring the right products to meet the right needs in the U.S. In a time when the Chinese economy is going through this interesting transition from exports-based to consumer-based economy. having access to very volatile markets like the A-share markets would not have been attractive to anyone.

We have 72 million people that are ready to retire between today and the next 17-years. You cannot be a 65-plus person and be totally invested in equities. You need a blend of stocks and bonds. The problem though is that due to QE programs, most domestic bonds are not in  apposition to deliver any yield that could be of use to you. To get higher yield, you need to go into junk bonds or take on duration risk that would be completely inappropriate for your needs as a retiree. Instead, I wanted us to deliver a bond fund product that has a different take, an investment grade bond fund, either triple-B or higher quality, and deliver something with short or medium duration. The current average duration is 3.5 years only on our fund.