CCB International Asset Management today launched its first renminbi-denominated fixed income fund.

The fund, called the CCB International - RMB Fixed Income Fund, will be marketed to both individual and institutional investors and will invest primarily in a diversified portfolio of renminbi-denominated debt instruments issued or distributed outside mainland China, the company said in a statement. It will be jointly distributed by China Construction Bank (Asia), CCB International Securities, The Bank of East Asia, Fubon Bank (Hong Kong), and Sun Hung Hai Investment Services.

"We expect more and more investors to participate in the renminbi investment market with the continued opening up of China's financial market," Dr Hu Zhanghong, chief executive of CCBI, said.

CCBI is a wholly-owned investment services business of China Construction Bank. The minimum investment required for the fund is RMB10,000 ($1,520).