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