The HSBC RMB Fixed Income Fund provides US investors access to China's growing bond market and any potential appreciations in its currency, the firm said. It will be managed by the company's Hong Kong Asian fixed income team, which to-date manages some $29.9 billion in investments, and will be led by Cecilia Chan, a veteran of HSBC for 18 years.

"As China is a global powerhouse, we expect its bond market to become one of the most important in the world. Allocations to RMB fixed income are likely to increase substantially in the future," said Christian Deseglise, head of sales in the Americas for HSBC Global Asset Management.

The offshore RMB bond market, commonly called the “dim sum bond” market, has been getting international attention since 2010 when the Chinese government allowed institutions to issue bonds denominated in the local currency. Today, the offshore RMB bond market is valued at RMB273 billion ($42.9 billion), according to HSBC.