The unit trust industry has a lot of work ahead of it to bring its products into the mainstream of investment tools in Hong Kong, according to Stewart Aldcroft, marketing and sales director for Templeton Franklin Investment Services (Asia). Templeton staff will be at MoneyWorld Asia again this year, promoting unit trust investment. 'We are proactive in promoting the funds industry in Hong Kong,' Mr Aldcroft said. 'One issue that comes up time and again is the attitude of many people who have never invested in funds before that fund companies are intimidating to them. They are worried because it is something unknown.' Mr Aldcroft said one of the problems in the industry was the way funds had been marketed with emphasis on past performance. 'Fund companies have tended to promote their products on a 'get-rich-quick' basis. What that does not do is promote the concept of using funds to accumulate savings. 'Unit trusts are not an investment. That might be a contentious statement, but I want it to be,' he said. 'I use the description because, if you look around the world, anywhere unit trusts or mutual funds have been successful and the reason the markets are active and successful is because the products are given equal shelf space with bank deposit accounts. 'They are regarded as a perfectly normal part of the savings mechanism of the country concerned and no one thinks there is anything special about them.' Mr Aldcroft said the Mandatory Provident Fund would not lead to much new money flowing into the mutual fund industry for at least the first two years.