Jardine Fleming has launched its first new product since the onset of its regulatory problems and has revealed plans for revamping its retail unit trust marketing strategy. The company launched the seventh in its series of guaranteed funds which during the past 18 months have raised about US$250 million. The series is a core part of the retail product range that covers 42 single countries, regional, global and money funds and about US$23.5 billion under management. The Thailand Capital Guaranteed Trust is a two-year term fund that guarantees 95 per cent of the original investment if the SET 100 continues to plummet. Alternatively, if the market rises during the term the investor will receive 120 per cent of the index increase added to the guaranteed amount, less the initial charge of 5 per cent. The guarantee is underwritten by Robert Fleming, the UK merchant bank. The unit trust operation generates about 90 per cent of its business from Hong Kong retail sales, European institutional sales and its Taiwanese retail operation. The remainder is from other Asian markets. The company envisages the bulk of its future growth from developing the Hong Kong unit trust market and is considering increasing the number of investment offices and the prospect of a generic advertising campaign. It has recently appointed a marketing officer - there are now two - to develop its European institutional sales. The company claims the recent troubles with British and local regulators have had little impact on either existing retail funds or the flow of new money. The unit trust operation has not escaped the shake-up that has reshaped other divisions in the company. Patrick Wong, general manager of Jardine Fleming Taiwan Investment Management, has become investment services director, replacing Cynthia Liu, who resigned in May after 18 months with the company. Anthony McDonald, a lawyer and former director of the Australian Investment Funds' Association, has been appointed product development director to review the existing product range and recommend changes and additions. The product review, due by the end of the year, will focus on gaps in the product range and any flaws within the existing fund range. Marketing director Michael Ryder Richardson said: 'We will also make sure our investment managers are aware of the needs of our clients, that is, their risk-reward expectations.' To this end, the company has appointed outside advisers to analyse investors' risk expectations.