Malta-based HSBC Fund Management Limited has introduced a euro-denominated version of their International Bond Fund (IBF) which is currently quoted in just Maltese Liri and sterling.
The euro version of the IBF has been open to investors since July 1 this year, though the fund's initial launch was in June last year, and in that time has gathered Lm6.8 million (16 million euros) in investor capital.
"The launch of the euro variant of the IBF is in response to the demand of investors who wish to invest in this fund by using euros, and who wish to monitor the progress of their investment in terms of euros," Joseph D Camilleri, managing director of HSBC Fund Management (Malta) Limited, told the Malta Independent.
"This fund has been very successful. Drawing on HSBC’s expertise in international investment management gives us a strong advantage in designing fund products that can help local investors find the right solution to their financial requirements," added Mr Camilleri.
By the end of its first year on 20 June 2003, the unit price of the fund finished 8.66% higher in Maltese Liri, and 12.05% in its Sterling version.
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