Bank of China (Hong Kong) (BOCHK) has partnered with FTSE Group to launch new FTSE-BOCHK Offshore RMB Bond Index Series.
According to BOCHK, the Index Series will measure the performance of RMB-denominated bonds issued and settled outside the Mainland of China.
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The Index Series is designed, calculated and managed by FTSE, while BOCHK Asset Management will act as an advisor.
The FTSE-BOCHK Offshore RMB Bond Index Series will include a benchmark index, with a number of sub categories, which will allow market participants to group the market by type of issuer, outstanding maturity and credit rating.
BOCHK said that the new Index Series will offer a benchmark that meets the increasing global demand for RMB-linked fixed income products, such as exchange-traded funds (ETFs).
Au King Lun, CEO of BOCHK Asset Management, said that the launch of the Index Series will further facilitate the transaction and circulation of RMB bonds, as well as the steady development of the RMB bonds market globally.
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By GlobalDataMark Makepeace, CEO of FTSE Group, said: "The FTSE-BOCHK partnership strongly positions us in the growing offshore RMB business. We are delighted to be working with BOCHK to create benchmark indices to support market demand for RMB-linked fixed income products."
