China strong currency wider reform agenda
From an economic perspective China’s strong currency is hurting exporters but, as Mark Tinker argues, there is a far bigger reform agenda here.
From an economic perspective China’s strong currency is hurting exporters but, as Mark Tinker argues, there is a far bigger reform agenda here.
After soft-closing the proposition in December last year, Allianz Global Investors has reopened its Renminbi Fixed Income Fund.
Local currency bond fund launches have been “super-fashionable” this year, with fund houses eulogising about the appreciation potential of emerging market currencies. But First State’s head of EM debt Helene Williamson is not such a fan.
Since August last year, when the Chinese government allowed qualified financial institutions to repatriate offshore RMB into the domestic market, the Dim Sum bond market has exploded.
Bank of America Merrill Lynch has launched a Dim Sum Index in a move that pays homage to the rapid development of the Chinese yuan-denominated offshore bond market in Hong Kong.
HSBC Global Asset Management today said it was launching a new renminbi fixed income fund, via its Luxembourg-based Global Investment Funds Sicav, to cater for the growing appetite in the UK and Europe for renminbi-denominated products.
One of China’s biggest fund managers is set to launch a redminbi-denominated fund for international investors.
Michael Howells explores the Silk Road path to the renminbi becoming the global monetary standard.
Allianz Global Investors is set to launch a Ucits-compliant renminbi bond fund later this month.
AllianceBernstein has launched a fixed income fund which aims to tap into Chinese economic growth.