HSBC Global Asset Management (HSBC GAM) is planning to launch a Luxembourg-domiciled renminbi bond fund targeting European investors, Asian Investor reports. It is also considering launching an RMB money market fund in North America.
With the proposed new funds, HSBC GAM is looking to build on the success of the RMB bond fund it launched in March in Hong Kong, which has raised $500 million. Separately, the firm has closed two funds in Asia this year as a part of its regular practice of culling unpopular or underperforming products.
Click here for the story from Asian Investor.