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HSBC Jintrust launches 3rd China fund
(XFN-Asia)
Updated: 2007-03-23 14:20 HSBC Jintrust Fund Management Co Ltd said it has launched its third fund in Chinese mainland - the HSBC Jintrust Dynamic Strategy Fund - which will be capped at 10 billion yuan (US$1.29 billion).
The fund, will have an investment weighting of 30 to 95 percent equities, and 5 to 70 percent in non-equity asset classes such as cash, bonds and derivatives, the company said in a statement. The new fund is designed to cater to "risk-bearing" investors while the two previous funds - which together raised 4.7 billion yuan as of end-2006 - were tailored to risk averse and aggressive investors respectively, the company said. The initial public offering period for the new fund is from March 22 to April 4 2007 in China. There are over 2,000 distribution channels, including branches of the Bank of Communications. The minimum investment amount has been set at 2,000 yuan, Jintrust said. HSBC Jintrust is a joint venture between HSBC Investments, which owns a 49 percent stake, and Shanxi Trust and Investment Corp Ltd (Jintrust), which holds the remaining 51 percent. (For more biz stories, please visit Industries)
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