Available between 1 July and 22 August in the Middle East region including Egypt, the new funds are part of a highly successful series that had record sales in 2001.
Designed to maximise the potential of stock market growth and give capital security, the funds are available for a four year term for clients who want to invest in indices representing top companies from the global technology sector, and the Eurozone. The two options are:
NEW - Nasdaq Bonus Fund (USD only)
Linked to the Nasdaq-100 Index, the Nasdaq Bonus Fund will profit from the potential growth of the top 100 performers within the global technology market. The fund is designed to offer 100% capital growth from the outset with the return only reducing if the Nasdaq-100 Index falls - which are measured on a monthly basis.
In addition, the fund is designed to provide investors with their original capital in full and additional minimum returns at 11% for US dollar investors.
NEW - European Growth Fund (USD only)
The European Growth Fund invests in Europe's top companies through the Dow Jones EURO STOXX 50 Index. Investors in this fund are well positioned to take advantage of European growth opportunities over the medium term.
The European Growth Funds offers US dollar investors up to 80% on capital invested, secure in the knowledge that the fund is designed to return at least their money back. Falls in the index will only reduce potential returns by a maximum of 5% (US$) per quarter.
Richard Rogers, Regional Financial Planning Manager said: " The new funds offer clients the chance to invest while prices are low and maximise the potential growth for their investment. However, our research shows that clients still need reassurance that they will not lose out if the markets suffer further setbacks. So, we have designed the two funds to provide capital security while giving a choice of markets offering growth potential over the next four years."
" The CSGF funds are appropriate for the full spectrum of investors - ranging from first-timers, who want to move away from low interest rates - to the more experienced, who want to create a firm foundation for their futures, by investing in a fund with growth potential without risking the capital base they have built up so far."
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HSBC launches seventh issue of international Capital Secured Growth Funds
- United Arab Emirates: Sunday, July 07 - 2002 at 14:54
- PRESS RELEASE
HSBC Bank Middle East is offering two innovative new funds under its Capital Secured Growth Funds series this summer.
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Notes and media contacts
Media enquiries to Steve Martin, Regional Manager Corporate Affairs on 971 4 50774651. Early Redemption Conditions -To receive the full benefit of CSGF, investors must be prepared to hold the investment for the four-year term. If investors decide to cash-in shares early they may not get back as much as they originally invested.
2. Minimum Returns - Capital Secured Growth Funds are designed to provide the minimum returns described regardless of market performance.
3. Investment Risk - HSBC recommends that customers seek professional advice before investing, either by contacting a member of our investments team or by calling an independent financial adviser.
The return of investors' capital and index growth is dependent upon financial instruments, which will be bought from a number of financial institutions. These financial institutions will have a rating of at least A or A2 as determined by either Standard & Poor's, Moody's Investors Services Inc. or an equivalent rating agent. In the event that any of these institutions are unable to meet their obligations, which is in our opinion unlikely, the Fund may not be able to return investors' capital in full or deliver index growth.
4. 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 SAE, and by its associated companies,
The Saudi British Bank and British Arab Commercial Bank Limited. In addition to its Middle Eastern network, the Bank has a branch in London, UK and a representative office in Tehran, Iran.
5. HSBC Holdings plc
HSBC Bank Middle East is a principal member of the HSBC Group which, with some 7,000 offices in 81countries and territories and assets of US$696 billion as at 31 December 2001, is one of the world's largest banking and financial services organisations.
Posted by Anne-Birte Stensgaard, News EditorSunday, July 07 - 2002 at 14:54 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
This article was updated on Tue Sep 16 2003.
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