Allianz reopens renminbi fund

Openning bottleAllianz Global Investors has reopened its Allianz RCM Renminbi Fixed Income fund. The Luxembourg-domiciled fund was soft-closed at €450 million in December last year to preserve liquidity. Helen Lam, senior portfolio manager, said the market was still at a relatively “nascent level” with the potential for supply and liquidity constraints. “However, heading into the summer of this year, we felt more comfortable re-opening the fund to new subscriptions,” she said. The reasons, Lam said, were that the market had matured and is now more liquid, stable and has greater daily volumes. Also, the size of outstanding bonds had grown, and more benchmark issues had tapped the market and been well absorbed. ©2012 funds europe

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