Hong Kong's unit trust companies spend twice as much on advertising as their counterparts in some other countries, such as Australia, a survey by accountants' Coopers & Lybrand shows. Advertising expenses as a proportion of funds under management averaged 0.118 per cent in Hong Kong, largely because of the need to boost awareness of trusts. The US$30 billion industry has about 1,100 funds and is estimated to involve between 2 and 5 per cent of the community. This compares with between 7 and 10 per cent in Australia. Coopers & Lybrand based the inaugural survey on interviews with the territory's largest 15 retail investment management groups. Personnel expenses account for about half of total expenses, with the remainder being absorbed by advertising, computer costs and telecommunications. Generally, trust company clients appear to be reasonably happy with company service as there is generally less than one complaint per month per 1,000 investors concerning issues not involving investment performance. In Australia, it is about 5.5 complaints per 1,000. 'The average shows that managers satisfactorily resolved complaints received within two days,' Coopers & Lybrand investment management industry group senior manager Mark O'Sullivan said. 'This highlights that the managers are investor-focused and keen to resolve any investor queries. 'The complaints received may vary from non-receipt of a transaction statement or annual report to delays experienced in processing, either application or redemption requests.' The majority of firms provided redemption proceeds a day after the request was made.