High energy prices rising interest rates in the U.S. are being blamed for the lackluster performance of the Pan Asia Bond Index Fund, the continent’s first exchange-traded bond fund. Since launching last year with $1 billion from money invested by 11 central banks in the region, the fund has attracted only another $200 million. The fund’s founder had hoped its $1,000 initial investment and 4% yield would attract investors, and that a successful launch would encourage greater participation in Asia’s debt capital market. That market has been having a tough time getting back on its feet since the continent-wide financial crisis in 1997 and 1998. “We are a bit disappointed,” portfolio manager Ramon Maronilla told Financial Times about the fund.