The Healthcare Protected Fund is designed to achieve medium-term capital growth through a diversified portfolio strategy, as well as being designed to offer 100% principal protection if held to maturity, regardless of the performance of the equity markets. Capital growth will derive from exposure to a basket of leading companies in the healthcare sector selected by the HSBC healthcare financial specialists.
The Fund is available from HSBC branches in selected Middle Eastern markets. Subscriptions will close on 15 July 2002, and the minimum investment amount is US$5,000.
Iqbal Khan, CEO of HSBC Amanah Finance, said: "In recent years, growth in the healthcare sector has been driven by demand for more effective and affordable treatments and medication at the global level. Demographic trends have also been a significant factor. Although the healthcare sector has been one of the best performing industry in recent years, individual companies in the sector often experience high volatility and can be overvalued. An HSBC capital protected investment in a basket of carefully selected healthcare companies offers an easy solution to such complex investment decisions."
"The Healthcare Protected Fund is designed as a fixed term investment, but is flexible to allow early redemption if the target performance is achieved early. Thus, a medium- term investment can be transformed into a short-term investment with enhanced yield, subject to market performance," he added.
All HSBC Amanah Funds are structured by the Dubai-based Amanah Finance team in co-ordination with the HSBC Shariah Supervisory Board, to ensure compliance with Shariah investment principles.
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HSBC launches new protected investment fund
- United Arab Emirates: Tuesday, June 11 - 2002 at 13:23
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HSBC has introduced the Healthcare Protected Fund, its third in the Sharia compliant Amanah Principal Protected Fund series. The new fund offers the benefits of full capital protection and exposure to one of the world's fastest growing economic sectors.
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Posted by Anne-Birte Stensgaard, News EditorTuesday, June 11 - 2002 at 13:23 UAE local time (GMT+4)
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This article was updated on Tue Sep 16 2003.
Notes and Media Contacts »
Media contacts: Ruggiero Lomonaco, Amanah Finance, HSBC Financial Services (Middle East) Limited, Tel: +971 4 223 3800.
1. HSBC Amanah Finance
HSBC Amanah Finance is responsible for the development of Islamic financial products for the HSBC Group. With experienced personnel working from London, New York, Dubai, Riyadh and Kuala Lumpur, its mission is to ensure that HSBC is the leading provider of value added Islamic financial products and services to its present and potential clients worldwide.
2. HSBC Bank Middle East
HSBC Bank Middle East is the largest and most widely represented international bank in the Middle East with 31 branches throughout the United Arab Emirates, Oman, Bahrain, Qatar, Jordan, Lebanon, and the Palestinian Autonomous Area including an offshore banking unit in Bahrain. This extensive regional coverage is strengthened by another member of the HSBC Group, HSBC Bank Egypt, and by its associate companies, The Saudi British Bank and the British Arab Commercial Bank. In addition to its Middle Eastern network, the Bank has a branch in London, UK, and a representative office in Tehran, Iran.
3. HSBC Holdings plc
HSBC Bank Middle East is a principal member of the HSBC Group which, with some 7,000 offices in 81 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa and US$ 696 billion in assets as at 31 December 2001, is one of the world's largest banking and financial services organisations.
1. HSBC Amanah Finance
HSBC Amanah Finance is responsible for the development of Islamic financial products for the HSBC Group. With experienced personnel working from London, New York, Dubai, Riyadh and Kuala Lumpur, its mission is to ensure that HSBC is the leading provider of value added Islamic financial products and services to its present and potential clients worldwide.
2. HSBC Bank Middle East
HSBC Bank Middle East is the largest and most widely represented international bank in the Middle East with 31 branches throughout the United Arab Emirates, Oman, Bahrain, Qatar, Jordan, Lebanon, and the Palestinian Autonomous Area including an offshore banking unit in Bahrain. This extensive regional coverage is strengthened by another member of the HSBC Group, HSBC Bank Egypt, and by its associate companies, The Saudi British Bank and the British Arab Commercial Bank. In addition to its Middle Eastern network, the Bank has a branch in London, UK, and a representative office in Tehran, Iran.
3. HSBC Holdings plc
HSBC Bank Middle East is a principal member of the HSBC Group which, with some 7,000 offices in 81 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa and US$ 696 billion in assets as at 31 December 2001, is one of the world's largest banking and financial services organisations.
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