The Chinese government is increasingly internationalising its currency. Joy Dunbar, editor of Absolute UCITS, explores if the renminbi could become the fourth currency share class for absolute return UCITS funds.
The renminbi: The fourth share class?
There are very few UCITS funds at the moment that have renminbi share classes. The stalwart share classes, for investors wanting to put their money into an absolute return UCITS funds are dollar, euro and sterling. Could the renminbi join the trio of established share classes to become the fourth standard currency available to investors?
The growth of the financial services sector in China
China is becoming bolder in the internationalisation of the renminbi and is actively exploring ways to reduce its dependency on the dollar, according to a report published by