HSBC has launched the Capital Guaranteed Global Treasures Fund offering capital protection plus an 8 per cent return over four years and the potential for additional gains via industrial metals. Roughly 3.5 to 4 per cent of the fund will be invested in global commodity futures to capitalise on the booming demand and rapid price gains in the sector. 'We feel there is great growth potential in commodities,' says Dawn Evans, senior fund sales manager of Jersey-based HSBC Bank International. The fund will trade in copper, aluminium and crude oil. It will also trade in gold and silver as a hedge against US dollar weakness and inflation.