Van Eck Launches Dim Sum Bond ETF

Van Eck beefed up its lineup of international bond ETFs today, rolling out a product focused on Chinese debt traded in the “Dim Sum” bond market in Hong Kong. The new Market Vectors Renminbi Bond ETF (CHLC) will seek to replicate an index comprised of investment grade debt that is denominated in renminbi and available to investors outside of China. So-called Dim Sum bonds are a relatively new innovation, and a significant expansion in the market in recent years has made it possible for international investors to gain exposure to the Chinese currency through debt issued in the local currency. Betting On The Yuan The last few years have seen significant developments in the Chinese currency market, as Beijing has gradually moved to ease what many in the international community have historically viewed as an artificially cheap currency. A cheap currency makes Chinese goods appealing to international consumers, thereby boosting [...] Click here to read the original article on ETFdb.com. Related Posts: Another China Yuan ETF: Rydex Launches FXCH September ETF Roundup: Launches, Filings, and Closures PowerShares Launches “Dim Sum” China Bond ETF ETF Insider: Bears On Parade China Bond ETF Race Heats Up