HSBC Jintrust suspension of the sale of the new fund

By Fund China
Published: 06:47, November 7th, 2007

GUANGZHOU (Fund China) - Fund companies and expansion of the scale of funds restricted by the China Securities Regulatory Commission, it was intended to control fund blind expansion triggered risks.

HSBC Jintrust Fund Management Co, Ltd. recently Notice Dragon Fund portfolio will be on November 8 from the limited sale. However, yesterday’s early morning of the Bank of Communications received on SMS, said HSBC Jintrust Dragon Fund portfolio removed from the shelves. Reporters saw in the Bank of Communications some outlets, many investors are Dragon Fund portfolio understanding of the situation to buy. As for why this fund to suspend sales, the industry is just hitting the China Securities Regulatory Commission’s new requirements.

Dragon Fund portfolio suddenly removed from the shelves

HSBC Jintrust Fund Management Co, Ltd. yesterday said its original intention was November 8th to the 16th launching the “HSBC Jintrust Dragon Fund portfolio,” continued marketing activities. In view of market factors, the company decided Dragon Fund portfolio is no longer available for sale.

Dragon Fund portfolio mainly by HSBC Jintrust Dragon Growth Fund and HSBC Jintrust 2016 Lifecycle Fund two funds by certain percentage composition. This approach is actually the same fund company’s funds packaged sales.

For investors, Dragon Fund portfolio investment merely distracted the risks arising from the Fund and the Fund has not closed period, the public can be arbitrary-time or for the redemption of all, is very convenient.

The company said: control market risks

Just the day before yesterday, HSBC Jintrust Fund Management Co, Ltd. also introduced the purchase Dragon Fund portfolio of 60% discount rate. After one day, on to a 180-degree turn, allow investors very surprised. A “not suitable for the market environment,” explained, are obviously not prepared to let investors buy the product satisfaction.

Get through the telephone customer service, call Miss, said the company suspended Dragon Fund portfolio mainly due to market factors. Much recent market volatility, during this period of time is very risky, in order to control risk, the company decided to suspend the sale.

Copyright Fund China 2008.

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