Hong Kong: Bank of China (Hong Kong) Limited (BOCHK) and FTSE Group (FTSE)
have announced a partnership to develop a new "FTSE-BOCHK Offshore RMB
Bond Index Series" (New Indices).
It was said that the partnership brings together BOCHK's unique competitive
position in the offshore RMB business, as well as FTSE's leading indexing expertise
and global network, to provide the market with an industry-standard benchmark.
It is hoped that the New Indices will "help global investors to capture
better opportunities in the offshore RMB fixed income as an investable asset
Under the partnership, BOCHK Asset Management Limited is the adviser
of the New Indices, while FTSE will offer calculation and management services
with respect to the existing Offshore RMB Bond Indices provided by BOCHK. FTSE
will also conduct the licensing procedures of the New Indices globally upon
completion of the transition details.
Mark Makepeace, FTSE's Chief Executive, said: "We are delighted to be
working with BOCHK to develop the offshore RMB bond indices offering. There
is increasing demand for access to RMB fixed income products, and FTSE's global
brand combined with BOCHK's track record in RMB indices will enable us to
accelerate the development of a global investor offering in this area."
David Wong, Deputy Chief Executive of BOCHK, added that "BOCHK takes great
pleasure in joining hands with FTSE Group to develop a new offshore RMB bond
index series. Given the increasing significance of RMB in the world economy,
we see growing demand for RMB fixed income products. In this regard, the introduction
of the New Indices will offer those investors an array of quality benchmarks.
It will also help facilitate the development of offshore RMB bond markets worldwide."
A comprehensive report in our Intelligence Report series
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and a description of the report can be seen at