Comment: Chris Sullivan
The hedge fund industry has always had a bit of a schizophrenic relationship with the media, particularly here in the US
31/01/2012
Stratton Street opens bond fund in two new classes
Stratton Street Capital announced today that is has added offshore Renminbi (CNH) and Swiss franc currency classes to its Renminbi Bond Fund.
The $940m Asia-focused investment firm, whose overall assets almost doubled last year, returned 9.73% to investors in the US dollar version of the fund.
Assets in the fund rocketed in kind, doubling from $47m to $93m
Andy Seaman, partner and portfolio manager at Stratton Street: “The offshore Renminbi bond market, which it is still in its infancy, trades relatively expensively to the onshore domestic market.
“Our fund is unique in that it offers Renminbi exposure by taking a portfolio of Asian bonds and adding the currency exposure to the Renminbi US dollar rate. By doing this, we are then able to create a higher grade portfolio and achieve a yield much greater than the Offshore Renminbi (Dim Sum) Bond market,” he added.
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