HFT Investment Management is set to launch a new renminbi money market fund in Hong Kong later this month.
The new fund will be available in share classes in other currencies.
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The new fund will bridge the gap in RMB investments and expand RMB investment opportunities beyond the usual equity and fixed income products to RMB investors and deposit holders.
The HFT (HK) China RMB money market fund will allow the RMB Qualified Foreign Institutional Investors (RQFII) to benefit from the yields of money market instruments in China through a low risk investment avenue.
In addition, the RQFII’s will be able to gain exposure to steady yields that are relatively high for money market returns from an international perspective.
HFT said that it will now use RQFII access to the onshore markets to make these higher yields available to investors outside China.
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By GlobalDataJelle Vervoorn, CEO of HFT, said: "The target investors for this fund include institutional investors as well as private investors holding RMB. It taps into an obvious need of these groups to enhance the returns on their RMB investments without them having to take the risk of equity investments or traditional fixed income funds."
