Global fund launches climb in China as yuan slumps

Managers such as Blackstone, Bridgewater Associates, and Oaktree Capital Management have opened funds, though they have not disclosed total fundraising. — Reuters

HONG KONG: Global fund launches in China have hit a record as a weakening yuan and fragile economy drive demand for foreign assets, in the latest sign of low confidence among domestic investors.

Eleven funds issued under the Qualified Domestic Limited Partner (QDLP) programme have been launched so far this year, according to data by Z-Ben Advisors, already outpacing the full-year number from any previous year.