HSBC, Schroders launch mutual fund

HSBC, Schroders launch mutual fund

JAKARTA: The Hongkong and Shanghai Banking Corporation Limited (HSBC) and PT Schroders Investment Management Indonesia have launched "Reksa Dana Smart Invest", a new mutual fund aiming to offer investors the potential to earn high returns through a low risk investment.

"The rupiah denominated fixed-income mutual fund will invest mostly in Indonesian recap bonds. With a minimum investment requirement of Rp 20 million, investors can earn up to approximately 12 percent per year," HSBC senior vice president Lily Budiono said on Thursday at a news conference.

There are no lock-in periods associated with the fund, which means investors can redeem their investment at any time without incurring a redemption penalty, she said.

The fund will be managed by Schroders and distributed exclusively for HSBC customers.

"Our market research indicates that customers want to invest in a fund that offers high returns but low risk. 'Reksa Dana Smart Invest' has been specially designed by HSBC and Schroders as the solution to address our customers' needs," Lily said. -- JP