China International Capital Corporation Hong Kong Asset Management, a subsidiary of China International Capital Corp, has partnered with hedge fund firm Brevan Howard Capital Management to launch a new global macro fund-of-funds that will invest in Brevan's range of strategies. 

The new fund, designed to allocate capital to a number of funds under Brevan Howard, will be managed solely by CICCHKAM. Its objective is to generate strong risk-adjusted returns in a wide range of market conditions by giving investors access to broad range of asset classes. An RMB-denominated share class will also be available.

The launch happens as hedge funds are becoming an integral part of investors' portfolios worldwide. By investing in a combination of strategies, both firms hope to generate superior returns through asset allocation and diversification, the firms said in a statement. 

China International Capital Corp is headquartered in Beijing and currently has 15 securities brokerage branches in major Chinese cities. It is also actively expanding overseas while consolidating its Chinese base in Hong Kong, New York, Singapore and London. Brevan Howard is one of the largest hedge fund managers in the UK.