The Chinese firm's Hong Kong unit is seeking to have an RMB bond fund approved by Christmas as the first of several Ucits funds. It plans to open an office most likely in London.
This week saw HSBC Global Asset Management offer its RMB bond fund to the mass retail market in Hong Kong. So far, HK dollar and US dollar investors account for over 70% of the fund's AUM.
The bank’s asset-management arm will start a renminbi bond fund targeting European investors in the fourth quarter, and continues its discipline of shuttering unpopular products.
The UK bank’s asset management arm is raising money for what will be only the second retail renminbi bond fund available in Singapore.