HSBC plans Luxembourg RMB bond fund, closes two funds
The bank’s asset-management arm will start a renminbi bond fund targeting European investors in the fourth quarter, and continues its discipline of shuttering unpopular products.
HSBC Global Asset Management will add to the dozen funds it launched this year in Asia in the first half of with a Luxembourg-domiciled renminbi bond vehicle targeting European investors.
The firm is also mulling the idea of launching an RMB money-market fund in North America, but has no concrete plans as yet.
Meanwhile, HSBC Global AM has closed two funds in Asia this year, as they hadn't achieved sufficient scale, although the firm declined to reveal their size. Both were in…
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