HSBC's RMB bond fund attracting non-RMB investors
This week saw HSBC Global Asset Management offer its RMB bond fund to the mass retail market in Hong Kong. So far, HK dollar and US dollar investors account for over 70% of the fund's AUM.
Further evidence that renminbi-denominated investments have caught Hong Kong retail investors’ imagination came this week as HSBC opened its RMB bond fund to the mass market.
Launched on January 28 last year through private placement, the fund has swelled in size over the past year to Rmb3.2 billion ($508 million) as at January 31, making it the largest such product authorised by Hong Kong’s Securities and Futures Commission.
The HSBC bond fund is available in three currency cla…
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