The two new share classes, which are available now, have been split into two further sub-classes – one for advisers and wealth managers and a further class for institutional investors. Dealing on the fund will remain weekly, with a further dealing day added based on the month end NAV.
Stratton said the addition of the two share classes reflected the “broad investor demand” for the fund. This is, according to the company, highlighted by the fund’s growth over 2011 which saw it increase from $47m (£30m, €36m) in assets under management to $93m during the year.
The company added that the return on the fund over the period in US dollar terms was 9.73%, which compares favourably with the HSBC Offshore Renminbi Bond Index which was up 1.63%.
Andy Seaman, partner and portfolio manager at Stratton Street Capital, said: “The offshore renminbi bond market, which it is still in its infancy, trades relatively expensively to the onshore domestic market. Our fund is unique in that it offers renminbi exposure by taking a portfolio of Asian bonds and adding the currency exposure to the renminbi US dollar rate. By doing this, we are then able to create a higher grade portfolio and achieve a yield much greater than the offshore renminbi (Dim Sum) bond market.”
London based Stratton said overall 2011 had been positive for the company, with total assets increasing from $593m at the start of the year to $940m by the end of December.
