Manulife Asset Management, a unit of Manulife Financial, is seeking to launch a new fund, The Wall Street Journal reports. The firm expects to raise about $100 million for the yuan bond fund. The vehicle will be denominated in U.S. dollars, which will enable domestic investors to hedge against the dollar’s downward trend. The fund may allocate 65% of funds to offshore yuan bonds issued in Hong Kong, 10% to synthetic yuan bonds and 25% to China-related, U.S. dollar denominated bonds.
Click here for the story from The Wall Street Journal.