HSBC Middle East launches new round of capital secured funds
HSBC Bank Middle East is to launch the latest issue of its Capital Secured Growth Funds (CSGF) on 20 January 2003. The two funds, which will be available until March 16 are the Nasdaq Annual Growth Fund and the Asia Plus Growth Fund.
“ Investors are becoming increasingly cautious in current market conditions, and these two new HSBC funds are designed to return their capital in full at maturity, while enabling them to benefit from potentially higher returns than traditional savings accounts,” said Regional Manager of Financial Planning Services, Richard Rogers.
To receive the full benefit of CSGF, investors must be prepared to hold the investment for the four and a half year term. If investors decide to cash-in shares early they may not get back as much as they originally invested.
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 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.
HSBC Bank Middle East is the largest and most widely represented international bank in the Middle East with 30 branches throughout the United Arab Emirates (UAE), 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 associated companies, The Saudi British Bank and 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. — (menareport.com)
HSBC Bank Middle East is a principal member of the HSBC Group which, has some 8,400 offices in 81 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. — (menareport.com)
© 2003 Mena Report (www.menareport.com)