SHK renews US MBS fund effort

Sun Hung Kai is conducting another round of marketing for a US mortgage-backed securities fund it is offering investors.

SHK Fund Management, a unit of Sun Hung Kai in Hong Kong, is marketing a US mortgage-backed securities fund for the second time. It first introduced the fund last summer as the first and so far only product under its alternative investment division, raising $220 million. But the fund's returns failed to meet its targets. Now SHK has brought out the fund's New York-based manager, both to explain and to raise new funds, because this strategy is designed to take...

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