GUINNESS Flight, a fund management group with about US$2.6 billion under management, opened a unit trust shop yesterday in a bid to widen its appeal among Hong Kong investors.
Domestic investors with a minimum investment of $10,000 can choose between any of the group's 31 equity, bond or cash funds on offer.
Investors should expect initial charges of around five per cent and annual management costs of between 0.5 per cent and one per cent.
The increasingly popular money market fund has no initial charge and an annual management fee of 0.5 per cent. There is no minimum investment for top-ups.
Managing director Dudley Howard said: ''Chinese investors like to eye-ball the people they give their money to. This shop will enable investors to talk to our Chinese staff about their investment strategy.'' Those considering investing more than $50,000 should be able to negotiate a discount.
The shop is in the Far East Finance Centre, Admiralty.
Mr Howard, a founding director of Jardine Fleming Unit Trusts, said investors were increasingly wary of the volatility in regional markets.
