U.K. Money Manager Starts New Fund to Buy Yuan Bonds in China
- Eurizon SLJ’s Stephen Jen is known for his dollar analysis
- Fund launch reflects haven appeal of Chinese assets, he says
Stephen Jen
Photographer: Jin Lee/Bloomberg
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Stephen Jen, known in investing circles for his “dollar smile” approach to evaluating the greenback, has stepped up his bet on the Chinese currency that’s trying to unseat its U.S. rival in global finance.
Jen’s London-based asset manager Eurizon SLJ Capital on Tuesday announced a new bond fund focused on yuan-denominated assets, while another product will buy local-currency debt from emerging-market nations. Eurizon SLJ is part of Intesa Sanpaolo SpA’s asset management division, which manages about 350 billion euros ($425 billion) across 25 countries, according to its website.