Allianz renminbi bond fund to reopen

Allianz Global Investors will reopen its soft-closed renminbi bond fund to investors on 6 August due to redemptions and increased liquidity in the market.

The €368m Allianz RCM Renminbi Fixed Income fund was soft-closed in August to preserve liquidity after assets rocketed to €450m in the two months since launch. In a note to investors, the group said the decision to reopen the fund has been largely driven by the reduced size of the portfolio and the increased liquidity in the market. "Since the closing of the fund in August last year, the offshore renminbi market has seen some positive development in terms of tradeable volume, liquidity, and daily conversion limits. These facts and the reduced fund volume enables us now to reopen the f...