Allianz Global Investors is shutting its renminbi bond fund to new investments to preserve liquidity, Citywire reports. The Allianz RCM Renminbi Fixed Income fund, launched in June, has already secured €450 million in assets under management.
The fund also holds a portion of renminbi deposits. Allianz is considering launching a renminbi deposit fund to provide pure currency exposure. The new vehicle will invest in currency deposits, rather than fixed income.
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