Bank of China to launch yuan funds in Switzerland

BEIJING, Sept 8 (Reuters) - Bank of China (3988.HK) (601988.SS) will launch the first yuan-denominated investment funds in Switzerland as Chinese investors expand their horizons and look to manage exchange rate risk.

The yuan funds, to be invested in a range of global assets, will be among a batch of 24 funds denominated in different currencies issued by Bank of China in Switzerland, the bank said in a statement on its website on Tuesday.

"This will help Chinese retail and institutional investors hedge against foreign exchange rates risks and invest in international financial markets," the statement said.

"At the same time, this will help foreign retail and institutional investors invest in the Chinese financial market." (Reporting by Aileen Wang and Simon Rabinovitch; Editing by Joanthan Hopfner)