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

Q&A: Filippo Pignatti Morano On The Ultimate Alternative Investment...Classic Cars

Jan 29 2015 | 12:37pm ET

In 2011, Filippo Pignatti Morano launched a fund to invest in classic cars. FINalternatives...

Lifestyle

Looking For A Hedge Fund Manager? Try Davos

Jan 28 2015 | 8:48am ET

Davos, Switzerland seems to have become the hedge fund capital of the world—at...

Guest Contributor

Five Tips For Successfully Marketing Your Hedge Fund

Jan 30 2015 | 9:14am ET

When it comes to the hedge fund industry, the notion of “build it and it will...

 

Editor's Note