Bank of China Hong Kong Launches New Investment Fund

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Last updated at: (Beijing Time) Thursday, July 04, 2002

Bank of China Hong Kong Launches New Investment Fund

The Bank of China Hong Kong (BOCHK) launched a new investment fund under the bank's name for the first time Thursday.

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The Bank of China Hong Kong (BOCHK) launched a new investment fund under the bank's name for the first time Thursday.

The BOCHK Investment Fund is a unit trust established by a trust deed between the bank and BOCI-Prudential Asset Management Limited and Bermuda Trust (Far East) Limited, said Lam Yim Nam, deputy chief executive of the bank said at a news conference.

The new fund provides for the combined financial expertise and strength of the three companies, offering customers a more diversified and professional choice of financial services, he said.

Lam said, "The launch of the fund represents the bank's increasing diversification and a continuing drive to provide more comprehensive banking and financial services to customers.

The new fund is an umbrella fund, with five sub-funds, including an equity fund, a global equity fund, a dollar income fund, a US dollar money market fund and a Hong Kong dollar money market fund, he said.

The umbrella fund is managed by professional financial consultants, providing customers with a more secure and stable return on their savings, he said.

Chief Investment Officer of BOCI-Prudential Asset Management Lionel Kwok said, "At current levels, global equity valuation is more attractive. Corporate earnings are expected to improve in thesecond half of 2002."

He said the global equity fund and the Hong Kong equity fund will provide an effective investment platform in quity markets, providing high medium-to-long-term risk-adjusted return to investors.

The Hong Kong dollar money market fund and the US dollar money market fund will provide stable returns at a low-to-medium risk profile.

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