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Equity fund turnover strikes record high

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SCMP Reporter

The record turnover on Hong Kong's share market was not the only indicator of unprecedented interest among investors last week.

Some of the SAR's fund managers said they experienced unusually high interest in equity trusts as turnover hit a record high.

Hong Kong's biggest fund manager, Jardine Fleming, said it had noticed a 'strong upsurge' in fund inflows during last week.

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JF marketing director Mike Ryder Richardson said investors had seen falls during the week as 'an opportunity to get into the market again'.

He said July and August as a whole had been very busy months amid frantic market activity - relative to the same month in previous years and to previous months this year.

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Only 1993 - which he described as 'exceptionally strong' - had been a busier year, but this year was 'of that order', he said.

At one stage during the boom of 1993 and early 1994, JF had to shut its doors to business because there was a fear application forms would be processed incorrectly, Mr Ryder Richardson said.

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