HSBC said GH was the first fund of hedge funds anywhere to be made available with a renminbi share class – also called a CNH share class, which describes the offshore Hong Kong renminbi market.
HSBC said the creation of the share class demonstrated its: “to offer clients investment opportunities that capitalise on the rapid growth of the CNH market.”
According to HSBC, the GH fund has returned 7.49% on an average annual basis since launch in 1996.
Chris Allen, chief executive of HSBC Alternative Investments, said: “The launch of this new share class will offer investment opportunities in a burgeoning new market. It demonstrates HSBC’s capabilities in bringing customised cross-border solutions to our clients.”
HSBC has also recently launched a renminbi bond index – the HSBC Offshore Renminbi (RMB) Bond Index (CNH).
