HSBC to launch offshore funds for cautious investors

HSBC Offshore tomorrow launches the latest issue of its best-selling offshore Capital Secured Growth Funds (CSGF). The two funds, available until March 18, are the Nasdaq Annual Growth Fund and the Asia Plus Growth Fund.

Commenting on the products, Pauline Azzopardi, HSBC product manager, said: "Investors are becoming increasingly cautious in current market conditions, and these two new HSBC funds are designed to return their capital in full at maturity, while enabling them to benefit from potentially attractive returns".

A minimum investment of £5,000 or US$5,000 or E5,000 is required. The investment period is for four and a half years and these CSGFs invest in the shares of HSBC International Capital Secured Growth Funds plc - an umbrella type, open-ended company, with variable capital incorporated under the laws of Ireland and authorised by the Central Bank under the UCITS Regulations.

With the Nasdaq Annual Growth Fund, the minimum return is your money back; the maximum is your money back plus an unlimited return, based on annual bonuses and locked-in growth. Return is boosted by an up front bonus of up to: 15.5% for sterling investments (7.75% final six months); 13.5% for US dollar investments (6.75% final six months); and 14.5% for euro investments (7.25% final six months).

With the Asia Plus Growth Fund, the minimum return is your money back plus 12% for sterling investments; 7% for US dollar investments and 9% for euro investments. The maximum return is your money back plus up to 72% for all currencies.

Early investors will receive bonus shares issued on the date that HSBC Funds Nominee (Jersey) Limited receives payment. Up to February 3, these amount to 0.3%; from February 4-17, 0.2% and from February 18-March 3, 0.1%.

Customers interested in receiving more information can contact HSBC Customer Helpline on 8007-4444 or visit any HSBC Branch in Malta and Gozo.