Not enough RMB bonds to satisfy demand, says BCT
Custodians and fund-admin providers are ready to tap potential opportunities in the renminbi funds market, but worry that RMB bonds are thin on the ground.
Banks have readied their custody, cash and fund-administration operations in Hong Kong and China to accommodate an expected boom in renminbi-denominated funds, following the further easing of rules on RMB settlement in Hong Kong.However, it seems there may not be enough RMB bonds to go around for the time being.
"Despite increasing market demand for these types of funds, the number of RMB bonds is limited," says Lau Ka-Shi, chief executive of MPF services provider Bank Consortium Tru…
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