CMG, SSB Citi try to lure Hong Kong's savings dollars

CMG, SSB launch guaranteed healthcare funds aimed at Hong Kong market.
CMG First State Investments and SSB Citi Asset Management have both launched funds aimed at parting cautious Hong Kong residents from their bank savings. Both offer prospective investors an opportunity to bet on health and biotechnology stocks with limited risk to their capital.

CMG's guaranteed health and biotechnology fund plans to invest 80% of the fund in treasury bonds and the remaining 20% in 43 actively managed drug, biotech, specialty pharmaceutical and medical technology stocks. Of these, 60% will be pharmaceutical stocks and 14% biotechnology stocks. As long as investors don't withdraw their money before the fund matures in March 2004 they will get back, at a minimum, their principal, minus...

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