New York-based asset manager Van Eck Global announced today that it has launched Market Vectors Renminbi Bond ETF (NYSE Arca: CHLC), an exchange-traded fund (ETF) which offers investors exposure to Chinese renminbi (RMB)-denominated bonds, often referred to as “dim sum” bonds. CHLC seeks to track, before fees and expenses, the price and yield performance of the Market Vectors Renminbi Bond Index (ticker: MVCHLC), an index designed to track the performance of RMB-denominated investment-grade bonds or unrated bonds from investment grade issuers in and outside of China.
“The world is transitioning from a period of U.S. dollar dominance to an era of currency blocs that better reflect the dispersion of economic growth. Certainly, the renminbi will be one of those currency blocs and China has taken significant steps to internationalize the RMB over the past two years,” said Jan van Eck, Principal at Van Eck Global. “As this trend continues, investors should consider allocating to each of these blocs over time, but neither China stocks nor China bonds are represented in widely used indices. By adding CHLC to the roster of Market Vectors China-focused products, we’re looking to make it easier for investors to add RMB-denominated exposure to their portfolios.”
The launch of CHLC reflects an increase in Van Eck’s commitment to the China investment theme and the ongoing evolution of Van Eck’s China-focused product offerings. In 2008, the firm distributed the first U.S.-listed Chinese currency exchange-traded note, Market Vectors Chinese Renminbi/USD ETN (NYSE Arca: CNY), at the time a cutting edge product that allowed investors to gain indirect exposure to Chinese currency. In 2010 the firm launched the first and currently the only U.S.-listed ETF designed to track the performance of an index composed solely of China A-Shares, Market Vectors China ETF (NYSE Arca: PEK). Additionally, Van Eck recently opened an office in Shanghai with an eye toward growing its market presence as it seeks to help investors better understand and access the Chinese marketplace.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV