Citic’s new multi-strat renminbi fund targets $1bn

Mon Jun 27, 2011

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Lu Li Craig Lindsay
Hong Kong has just seen the launch of a potentially ground-breaking new multi-strategy renminbi-denominated fund betting on a steady appreciation of the Chinese currency against the US dollar.

The CSI RMB Fund will employ strategies in FX, credit and interest rates to grow, making it one of the most sophisticated RMB-denominated strategies yet to come into the market.

The fund’s advisor, CITIC Securities International Investment Management (CSIIML), which is the asset management arm of CITIC Securities International in Hong Kong, says it hopes to scale the fund, which targets an annual return of 10%-20%, to an asset size of $1 billion.

ISSN: 2151-1845 / CDC10004H


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