Pictet Asset Management has rolled out the new Pictet Chinese local currency debt fund that will facilitate investment in China’s onshore bond market.
The new Luxembourg domiciled UCITs compliant fund will be primarily invested in Renminbi-denominated onshore bonds, Portfolio Adviser reported.
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At presently, the fund is registered in the UK, Austria, Netherlands, Sweden, Germany, Luxembourg, France, Cyprus, Finland, Greece and Portugal. Other countries are expected to follow later.
The fund will be managed by Cary Yeung, who will be assisted locally by senior credit analyst Jennifer Chang, and specialist Chinese debt trader Echo Chen.
Pictet was offered access to the Chinese onshore equity and fixed income securities markets, including the A-Share equity and onshore bond markets, after securing approval of the RMB Qualified Foreign Institutional Investor licence last year from the China Securities Regulatory Commission.
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