JP Morgan Asset Management expands its Asian fund offering by introducing an RMB-hedged asset class.

JP Morgan Asset Management, the asset management arm of US bank JP Morgan, has introduced a new RMB-denominated share class for one of its main fund products. 

The RMB-hedged share class for JPMorgan Asian Total Return Bond Fund follows on the success of the similar extension launched for the JPMorgan Asia Equity Dividend Fund and JPMorgan Multi Income Fund in early 2014. The minimum investment for the new product is RMB16,000 ($2,500). 

"With the growing importance of RMB as a global currency and the attractive yield that it offers, the introduction of an RMB-hedged share class allows investors to generate additional potential returns with their RMB holdings," said Stephen Chang, manager of the fund. 

Before the launch, the fund has already been offering five currency choices, namely, US dollar, Hong Kong dollar, Australian dollar hedged, Canadian dollar hedged and New Zealand dollar hedged classes.