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Last updated at: (Beijing Time) Thursday, February 19, 2004

Sentiment improved in funds industry: financial info firm

Investor sentiment has improved with positive flows into mutual funds, and the year 2003 saw positive global performance across most funds sectors, ending three years of negative returns, said a financial information company here Wednesday.


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Investor sentiment has improved with positive flows into mutual funds, and the year 2003 saw positive global performance across most funds sectors, ending three years of negative returns, said a financial information company here Wednesday.

Michael Peace, CEO of Lipper Asia Limited, a leading global provider of mutual fund information and analysis to fund companies,financial intermediaries, and media organizations, said that Lipper looks forward to an equally successful 2004 in Hong Kong funds industry.

He made the remarks when attending the sixth annual Benchmark Fund of the Year Awards on Wednesday. Credit Agricole Asset Management (HK) Ltd. was named Benchmark Fund House of the Year for 2003.

Merrill Lynch Investment Managers, winner of Benchmark Fund House of the Year for the past three years, won the Special Award for Consistent Achievement. Other outstanding achievers in 2003 included Fidelity and Jardine Fleming.

The Benchmark Fund of the Year Awards are based on performance data provided by Lipper Asia Limited, a Reuters company specializing in fund information and data analysis. There were 26 award categories measured over one, three and five years, coveringan estimated 1,700 individual funds authorized by the Hong Kong Securities and Futures Commission.

The awards were calculated on a Hong Kong dollar, bid-to-bid orNAV-to-NAV (net asset value) basis with gross income reinvested atthe ex-dividend date. In all, 77 awards were given, with a total of 32 fund houses as winners.

Source:Xinhua




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