HSBC Global Asset Management has launched a renminbi fixed income fund run by Cecilia Chan, the head of the group’s Asian fixed income team.
The HSBC GIF RMB Fixed Income fund focuses on offshore renminbi-denominated instruments including bonds and deposits.
The average duration is expected to be between one and three years and the fund adopts a top down approach with a bottom up fundamental analysis. It will be managed by the Asian fixed income team, based in Hong Kong.
Chan says: “The renminbi has the potential to be one of the world’s major reserve currencies in the future. As such, we believe the emergence of the offshore renminbi fixed income market will provide investors with an exciting new investment opportunity.”
HSBC Global Asset Management head of wholesale, EMEA Andy Clark (pictured) says: “The HSBC GIF RMB fixed income fund is an early entrant within the Ucits structure. The fund brings the expertise of HSBC’s vast capability in Asian fixed income to European investors in a straightforward format.”