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Allianz closes subscale Renminbi Fixed Income fund

Allianz closes subscale Renminbi Fixed Income fund

Allianz Global Investors is closing its Allianz Renminbi Fixed Income fund as it is too small to be eligible for a scheme which allows it to invest in mainland Chinese shares.

The fund’s overall assets under management is €14.6m.

The fund was launched with access to the Qualified Foreign Institutional Investor scheme, under which it was licensed to buy renminbi-denominated A shares in China’s mainland Shanghai and Shenzen stock exchanges. However, due to its small size it is no longer eligible.

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The fund’s closure is subject to regulatory approval and expected to be finalised in the summer.

Helen Lam, who runs the fund, will remain at the asset manager and continue running the Allianz Renminbi Currency fund.