|
HSBC Asset Management is re-offering its popular HSBC China Momentum Fund and will increase its proportion of A-share in the fund's portfolio, Richard Wong, director and country head of the company's China investment team said Monday.
Wong said: "A key feature of the HSBC China Momentum Fund is that investors are provided access to Chinese mainland's large A-share market. The US$463 billion A-share universe of 1,300 shares, covering more than 50 industries, offers investors an opportunity to take advantage of mainland's dynamic economy and potential growth."
"Driven by robust domestic consumption and investments, mainland's economic growth is expected to stay at around 8 percent in 2005. Foreign direct investment inflows, which rose 13 percent to US$61 billion in 2004, should remain strong," he said.
"The 2008 Olympic Games and mainland's entry into the World Trade Organization will further support mainland's economic growth. We believe mainland will remain the destination of choice for investors," said Wong.
Currently, the proportion of A-share just accounts for 14.6 percent in the whole portfolio of the Fund. Wong said as there are huge opportunities in the A-share market, the Fund will increase the proportion of A-shares in the portfolio.
According to HSBC Asset Management, the Fund was one of the first to offer retail investors in Hong Kong access to mainland's A-share market, when it was launched on October 28, 2003. As of February 3, 2005, the Fund has achieved a 32 percent return, considerably higher than the 9 percent growth in the CLSA China World index.
The Fund's offer period closes on April 7, 2005. Minimum investment is US$3,000, the company said.
(Xinhua News Agency March 15, 2005)
|
