Launches & Closures

Permal offers renminbi shares for flagship funds


Permal Group, one of the oldest funds of funds – founded in 1973 – and now with $23.1 billion under management, plans to launch Chinese renminbi (CNH) share classes for two flagship funds, Permal Fixed Income Holdings and Permal Macro Holdings.

The Permal Fixed Income Holdings CNH share class will be launched at the end of September, with the Permal Macro Holdings CNH launched shortly afterwards. Permal Fixed Income Holdings is a $5.7 billion global fixed income fund of hedge funds and Permal Macro Holdings is a $6.1 billion global macro fund of hedge funds. Both funds currently