The Hong Kong Shanghai Banking Corporation has established an International Capital Secured Growth Fund (ICSGF) which offers 100 percent protection to investors, an HSBC statement said on Wednesday.
The statement said the fund will cover UK, US, Europe and Asian stock markets.
Robert Bray, HSBC chief executive officer, said the bank's ICSGF are designed to offer a combination of capital security and investment growth linked to the potential of the world's major stock market.
Bray, who was addressing a gathering of participants, added that the fund is 100 percent protected over the four-year and one-month investment term, with a minimum investment of $5,000.
The fund, which will be closed once it becomes fully subscribed, will be available from Oct. 16 until Nov. 30.
The HSBC Middle East, with a total of 29 branches in the UAE, Oman, Bahrain, Qatar, Jordan, Lebanon and the Palestinian self-ruled areas, is among the largest international financial institutions which are active in the region.
The HSBC Middle East, a principal member of the HSBC Group with more than 6,000 office in 81 countries with an estimated assets of $580 billion, is one of four foreign commercial banks which operate in the Kingdom. — ( Jordan Times )
By Tareq Ayyoub
© 2000 Mena Report (www.menareport.com)