HSBC Jintrust launches large cap equity fund

HSBC Jintrust Fund Management Company Limited (HSBC Jintrust) has launched the HSBC Jintrust Large Cap Equity Fund. The heaviest equity-biased product from HSBC Jintrust, the Fund allows Mainland investors to capture the long-term growth of China’s economy.

Jointly managed by Tom Lin, Chief Investment Officer, and Ally Wang, investment manager, the HSBC Jintrust Large Cap Equity Fund will have equity holdings between 85 percent and 95 percent − the highest level permitted by the regulator. The Fund is HSBC Jintrust’s sixth product since the inception of the joint venture in 2005.

Mr Lin said: "The Fund will invest mainly in the leading large cap stocks in the sectors benefitting most from the government’s RMB4 trillion economic stimulus package. These sectors, including railways, highways and airports, have relatively attractive valuations now, and will be the key drivers for China’s recovery from the global economic slowdown. We have set a high level of equity weightings to give investors greater exposure to the long-term growth of China’s economy."

Mr Lin, who has 11 years of industry experience, is one of the most experienced fund managers in the Mainland equity market. He is also the fund manager for the HSBC Jintrust Dragon Growth Equity Fund, which had RMB1.44 billion in assets at the end of March 2009. Ms Wang has more than eight years of industry experience and was selected as one of the top three analysts in the country in 2005 by Mainland publication, New Fortune.

The initial public offering of the HSBC Jintrust Large Cap Equity Fund is available from 18 May to 19 June 2009 in mainland China via Bank of Communications, China Construction Bank and a consortium of other distributors, as well as HSBC Jintrust Direct VIP Services and the e-trading platform on its website https://www.hsbcjt.cn.

HSBC Jintrust Fund Management Company Limited is a joint venture fund management company established between HSBC Global Asset Management and Shanxi Trust and Investment Corporation Limited (Jintrust) in 2005, with a capitalisation of RMB200 million. HSBC Global Asset Management holds 49 percent of the equity in the joint venture company and Jintrust has the remaining 51 percent. HSBC Jintrust has funds under management of RMB6.9 billion at end March 2009.