The fund invests mainly in fixed income securities that provide exposure to the RMB, and maximize total return, comprised of both capital appreciation and income.
The Fund is managed by HSBC Global Asset Management’s Hong-Kong based Asian Fixed Income team, headed by Cecilia Chan who has managed Asian fixed income assets at HSBC for 18 years.
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The offshore RMB bond market, called Dim Sum bond market, has grown since the middle of 2010 when legislation was passed in China and Hong Kong, allowing a wide range of institutions to issue bonds denominated in China’s currency.
Chan said, "The investment case for the offshore RMB bond market is compelling, given competitive yields and the long-term potential for the RMB currency to appreciate. We think that the internationalization of the RMB will continue to be an important theme for many years to come."
HSBC Global Asset Management head of sales in the Americas Christian Deseglise said the bank expects allocations to RMB fixed income to increase substantially in future.
"The HSBC RMB Fixed Income Fund brings HSBC Global Asset Management’s experience and expertise in managing Asian fixed income to US investors in a straightforward way," Deseglise said.
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