Asia seems to be back in vogue as the beta du jour. HSBC Alternative Investments has extended its $2.6 billion flagship HSBC GH fund of funds to clients holding renminbi deposits. Meanwhile Signet Capital Management has teamed up with HSBC to create an Asia Weighted Index that includes the Chinese renminbi but not the Japanese yen that it can use to hedge its fund of funds portfolio.
HSBC has attained a leadership position in the Chinese currency market, most recently launching the HSBC Offshore Renminbi Bond Index in March. The HSBC GH Fund