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Lion Global Funds to be terminated
Lion Global Funds will be terminated with effect from 30 April 2011. As at 31 December 2010, the total net asset value of each Sub-Fund has fallen below S$5million. As a result, the expense ratio of the respective Sub-Funds has been consistently high. The group believes that at such a high expense ratio, the Sub-Funds will not provide a favourable level of return to its Unitholders, and it would be prejudicial to your interests as a Unitholder for the Sub-Funds to continue operating. Â
Lion Global Funds to be terminated
Lion Global Funds will be terminated with effect from 30 April 2011. As at 31 December 2010, the total net asset value of each Sub-Fund has fallen below S$5million. As a result, the expense ratio of the respective Sub-Funds has been consistently high. The group believes that at such a high expense ratio, the Sub-Funds will not provide a favourable level of return to its Unitholders, and it would be prejudicial to your interests as a Unitholder for the Sub-Funds to continue operating. Â
ICBC to build team of international marketing experts
ICBC invited several international marketing experts to set up professional team in market analysis and product innovation. It will focus on the launch of quantitative investment products to emerging markets, FX market. They are a strong force to drive ICBC's product innovation. Chen Xiaoyan said, ICBC places asset management as a strategic business to drive ICBC's business re-orientation and sustainable development. Asset management services can be a bridge or link to bring together the customer and capital market and drive the innovation in wealth management market. The service can also improve the level of customer services, help customers create good investment return. From a bank's perspective, asset management business is an important source of intermediary business revenue for commercial banks since banks only act as advisor on wealth management investment, trustee and invest-on-behalf, and collect commission and banking fees.
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