Playing it safe

Investec rides the latest retail investment trend in Hong Kong: guaranteed funds.

Stewart Aldcroft, managing director at Investec Asset Management in Hong Kong, says that since September, Hong Kong retail investors have bought $600-700 million worth of guaranteed fund products. That number excludes any guaranteed products in Mandatory Provident Fund master trust schemes, he notes.

Although he doesnt have details about how much of this is new money versus money switched out of other funds, Aldcroft says anecdotes suggest much of it is new. For example, in November, Investec launched...

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