In periods of heightened volatility, the value of trusted market intelligence, strong execution, and enduring institutional relationships becomes even more pronounced.

For more than two decades, Asset Benchmark Research’s ( ABR ) G3 Bond Benchmark Survey has served as one of Asia’s most authoritative and enduring assessments of the market – capturing the perspectives of the buyside to identify the investors, banks, and market professionals setting the standard across the region.

The 2026 survey comes at a pivotal moment. G3 bond issuance in Asia ex-Japan and Australasia rose 15% to US$268.29 billion in 2025, compared with US$233.28 billion in 2024. As 2026 gets underway, the volume slipped, declining by 10.6% to US$97.41 billion in the first four months of the year, compared with the same period in 2025, as issuers navigated heightened volatility and shifting risk sentiment triggered by Middle East tensions.

Yet signs of recovery are beginning to emerge. Issuance rebounded to US$18.91 billion in April from US$13.79 billion in March, as borrowers returned to the market and investors sought to lock in attractive yields.

As LSEG data show, South Korea saw a significant surge in issuance activity, demonstrating strong momentum despite global disruptions, as its frequent issuers maintained a steady deal flow. Conversely, most other major markets recorded declines. China, Hong Kong, the Philippines, India, Singapore, and Malaysia all experienced lower issuance volumes, with Singapore and Malaysia showing particularly pronounced decreases.

In an environment where market conditions are evolving rapidly, ABR invites participants to help identify the firms and individuals delivering the highest levels of insight, liquidity, and execution across Asia’s G3 bond market. Your vote will contribute to one of the industry’s most closely watched benchmarks of market leadership and institutional excellence.

As the region’s most established review of offshore capital markets, ABR’s annual G3 Bond Benchmark Survey evaluates the market players, tracking buyside performance and the quality of sellside support in research, sales, and trading. By identifying the Most Astute Investors and the Best of the Sellside, ABR highlights the critical services and institutional attributes driving the market today.

Last year’s ABR G3 Bond Benchmark 2025 Survey reveals a distinct competitive landscape across Asia’s primary financial hubs.

In Hong Kong, the Top Investment Houses rankings were headlined by China Life Franklin Asset Management, with CNCB ( Hong Kong ) Capital and Zhong Ou Asset Management also securing top positions. The Singapore market saw BlackRock take the lead, followed by UBS Asset Management and Capital Group.

The Best of the Sellside rankings were topped by Deutsche Bank, followed by a strong showing from J.P. Morgan, HSBC and Barclays. Nomura rounded out the top five, reflecting its continued competitive presence and solid standing in the overall market.

The 2025 Best in Portfolio Management rankings recognized Richie Lyu ( senior portfolio manager ) and Yolanda Ye ( CIO ) from Zhong Ou Asset Management as Most Astute Investors in Hong Kong. In Singapore, Smit Rastogi of UBS Asset Management took the top spot, followed by Fullerton Fund Management’s Siew-Huey Loong.

In the sellside top economists and strategists ranking, Owen Gallimore of Deutsche Bank secured the top position, with Barclays’ Yimin Weng and BofA Securities’ Joyce Liang placing second and third, respectively. For the top analysts, the ranking was led by Nomura’s Nicholas Yap, followed by Chris Lu at BNP Paribas and Eric Liu at Nomura.

With the launch of the 2026 G3 Bond Benchmark Survey today, it will be using the reciprocal voting structure: buyside participants cast votes to recognize outstanding sellside individuals and firms for their trade execution, client service, and research insights, while sellside professionals evaluate investors and buyside firms for their portfolio innovation and market-making capabilities.

This year’s update limits each participant to five votes to recognize a broader range of contributors. Furthermore, bi-weekly attribution topics have been introduced to highlight specific, highly relevant strengths, allowing participants to recognize outstanding individuals for the type of skill they are being acknowledged.

Beyond the survey, we’re also delighted to introduce The Asset Community — a new space where you can post, comment, follow, and message your colleagues across the region. Jump in, share your thoughts on the latest developments within Asia’s fixed income industry, and help build a vibrant and engaging community together.

Market participants are strongly encouraged to act now: download the recently enhanced The Asset App, register and cast your votes before the survey officially closes at the end of July 2026.

For additional inquiries, please reach out to g3b@theasset.com.

To participate in ABR’s 2026 G3 Bond Survey, please click here.

To view the results from last year, please go here.

Watch a video here and learn more about the new features we have added to The Asset App to better showcase the individuals and firms who stand out in the G3 bond ecosystem.