Pictet to access Chinese interbank bond market
Pictet Asset Management has been granted access to China's main onshore market for bonds, the Chinese interbank bond market.
This allows the Pictet-Chinese Local Currency debt fund, which launched in March, to access the market where about 90% of Chinese onshore bond trading takes place.
"This means we can fully capitalise on the potential of the fast-growing market Chinese bond market. It is already the world’s third largest and offers investors attractive yields and the potential for long-term currency appreciation,” says Cary Yeung.
Based in Hong Kong, Yeung manages the Pictet-Chinese Local Currency Debt fund with Jennifer Chang, a senior credit analyst and Echo Chen, a specialist trader in Chinese debt.
The fund is one of the first Ucits-compliant onshore RMB bond funds.
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