Bank of China (Hong Kong) Asset Management, Citi launch renminbi high-yield fund

By Tali Rackner

Norfolk, Va., Sept. 25 – Bank of China (Hong Kong) Asset Management Ltd. and Citigroup Global Markets Ltd. announced that they have jointly launched the BOCHK RMB High Yield Bond Fund, according to a press release.

This is the company’s first renminbi high-yield bond UCITS fund registered in Luxembourg. It aims to generate long-term capital growth and income by investing mainly in debt securities, which are either denominated in renminbi, hedged to this currency or have other exposure to this currency, giving investors the potential for investment returns from renminbi fixed-income investments and renminbi currency appreciation, the release said.

The fund benefits from the company’s expertise and experience in investing in the renminbi high-yield market, leveraging its onshore and offshore China market insights, the release noted.

Bank of China (Hong Kong) Asset Management, a wholly owned subsidiary of Bank of China (Hong Kong) Ltd., has the full support of the commercial banking group, which is the sole renminbi clearing bank and a major renminbi participating bank in Hong Kong.

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