JF reports strong response to reopening

JARDINE Fleming's return to the unit trust industry got off to an encouraging start last week.

A total of 160 investors visited JF's investment centre in Jardine House on Friday, more than double the 70 who appeared on Wednesday, the day the company ended its six months of self-imposed exile. Thursday's count was 136.

The 47 sales logged on Wednesday reflected a sharp increase on figures recorded the day before JF reopened, when just six sales were made.

JF now has to make up for lost ground after a huge surge in business in January forced it to shut its doors to new investors, close down regular savings plans and boost dramatically minimum investment levels to block out existing clients.

At the height of the bull market, JF was dealing with 600 inquiries per day, with 300 visitors to the investment centre and 300 telephone inquiries.

Jardine Fleming chief executive Tony Doggert said the lead-up to the reopening had been an anxious time.