Bonds cater for conservative

Hang Seng Bank yesterday launched a new Global Bond Fund to cater for what it believes is a growing demand for more conservative investment.

Cheung Ka-ming, general manager of Hang Seng Investment Management, said the fund aimed to maximise returns while achieving regular income through investing in a globally diversified portfolio.

'Since the Asian financial turmoil, there has been a growing demand for more conservative investment such as quality bonds,' Mr Cheung said.

'The customer response to our Global Selected Funds also indicates that investors are particularly receptive to low-risk global investment.' With a minimum subscription of HK$20,000, or HK$1,500 per month, the initial subscription price will be US$10 per unit.

The new fund follows the launch of the Hang Seng Global Selected Funds in July and the Hang Seng Regular Investment plan in November.

Customers will be able to switch from one fund to another at any time subject to a 'minimal' switching fee.