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Friday, September 23, 2011

AlphaShares Debuts a China Bond Index

Reported by Hung Tran

AlphaShares has launched a new China Yuan Bond Index designed to track bonds that are denominated in China’s local currency the renmimbi. The AlphaShares China Yuan Bond Index has been licensed to Guggenheim Funds Investment Advisors, LLC.

“The young but fast growing market for so-called ‘dim sum’ bonds provides investors the opportunity to own bonds denominated in the RMB giving US investors direct exposure to the Chinese currency” stated Burton Malkiel, Chairman of the AlphaShares Index Committee and a co-founder of the firm. “Historically, these bonds have had low correlations with US bonds and other developed market bonds and as a result are an excellent way to diversify a fixed income portfolio.”


AlphaShares Launches China Yuan Bond Index New Index covers fast growing “dim sum” bond market of RMB denominated fixed income

Walnut Creek, Calif., (September 21, 2011) – AlphaShares, LLC announced today that it has launched a new China Yuan Bond Index designed to track bonds that are denominated in China’s local currency the renmimbi or RMB. (Renmimbi means “people’s currency”. Renmimbi are denominated in the unit Yuan.)

The AlphaShares China Yuan Bond Index measures and monitors the performance of an investable universe of publicly-available Chinese fixed income securities denominated in Chinese Yuan and includes bonds issued by both mainland Chinese and non-Chinese entities. “The young but fast growing market for so-called ‘dim sum’ bonds provides investors the opportunity to own bonds denominated in the RMB giving US investors direct exposure to the Chinese currency” said Dr. Burton G. Malkiel, Chairman of the AlphaShares Index Committee and a co-founder of the firm. “Historically, these bonds have had low correlations with US bonds and other developed market bonds and as a result are an excellent way to diversify a fixed income portfolio.” In addition, said Dr. Malkiel, “The index includes only investment-grade credits from major issuers including the Chinese government and Chinese government agencies such as the Export Import Bank of China and the China Development Bank. Approximately 90% of the issues in the index are rated A- or better.”

The AlphaShares China Yuan Bond Index has been licensed to Guggenheim Funds Investment Advisors, LLC (“Guggenheim”). Previously AlphaShares has licensed four China equity indexes to Guggenheim. These indices are the basis for the Guggenheim China Real Estate ETF (NYSE Arca: TAO), the Guggenheim China Small Cap ETF (NYSE Arca: HAO), the Guggenheim China All Cap ETF (NYSE Arca: YAO) and the Guggenheim China Technology ETF (NYSE Arca: CQQQ). AlphaShares, LLC is a portfolio company of Northern Lights Capital Group.

About AlphaShares AlphaShares, LLC is an investment firm dedicated to providing investors with strategies and products to participate in China’s fast growing economy. AlphaShares investment philosophy and strategies are based on the beliefs and research of co-founder and Chief Investment Officer, Dr. Burton G. Malkiel. The AlphaShares team has over 100 years of experience with firms including, Barclays Global Investors, BARRA, Robertson Stephens & Company and The Vanguard Group. 

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