HSBC Alternative Investments has extended its flagship HSBC GH Fund of Hedge Funds, launched in 1996, to clients holding CNH - so-called “offshore renminbi” - deposits. This new share class will be the first CNH fund of hedge funds offering.

The fund already offers currency classes hedged into the euro, sterling, Swiss franc, Singapore dollar, yen and Australian dollar. The introduction of the offshore renminbi reflects the growing internationalisation of this currency and the ever-changing needs of investors, the firm said. 

HSBC has been active in this market, most recently launching an Offshore Renminbi (RMB) Bond Index (CNH) vehicle in March 2011.

The HSBC GH Fund had assets under management amounting to $2.6 billion at end-March 2011.