Asset owners warming to dim-sum bond market

Institutional investors are being attracted to the maturing $25 billion dim-sum bond market as they can bet on a broader array of issuers with diversity in yields based on credit fundamentals. Now renminbi appreciation is no longer taken for granted – the RMB has depreciated 0.5% against the dollar this year compared with a 30% surge since 2005 when the central bank ended the peg to the greenback – investors including insurers, asset managers and banks are turning to the five-year…