Shanghai’s Citic Launches RMB FX/Fixed Income Hedge Fund

Jun 29 2011 | 10:19am ET

Shanghai-based Citic Securities International Fund Management has launched a renminbi-denominated hedge fund focusing on foreign exchange and fixed income.

The CSI RMB Fund, which specializes in the so-called ‘dim-sum’ bond market (renminbi-traded bonds), launched in mid-June, reports Hedge Funds Review, and will invest initially in offshore renmimbi-related securities in Greater China.

CSI Fund Management seeded the fund with $5 million which has since become $6 million and the company expects AUM to reach $100 million within the next year. Craig Lindsay, managing director and COO of CSI Investment Management told the Review that AUM could eventually top $1 billion. Lindsay says the renmimbi is on course to appreciate by 5%-7% annually, but that there may be “bumps along the road” providing shorting opportunities.

The Caymans-domiciled fund will be managed opportunistically and have a long bias. Portfolio manager Li Lu joined Citic Securities in February from the financial markets department of the China Construction Bank where she was a portfolio manager.

Minimum investment in the fund is $1 million.


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Provio Brings Anonymous Interviewing to Wall Street

Aug 12 2015 | 2:44pm ET

Taking a page from social networking and dating websites, a startup technology company...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note