Allianz unveils second renminbi fund

Allianz Global Investors has unveiled its second renminbi fund which aims to offer investors exposure to the expected appreciation of the currency.

The Allianz RCM Renminbi Currency Fund - a Luxembourg-domiciled fund - will invest in a range of renminbi-denominated currency deposits. It will be managed by Helen Lam, who has worked on RCM's regional fixed income team since 1999. Lam already runs the group's first renminbi offering which launched in May this year and invests in fixed income in the region. The fund will aim to deliver lower risk exposure to China's capital markets by investing in a diversified portfolio of offshore renminbi denominated deposits. It aims to capture the expected appreciation of the renminbi vers...