China

HSBC Jintrust Small-Mid Cap Equity Fund raised approximately US$329 million during the initial public offering in mainland China.

HSBC China joined the underwriting group for Renminbi-denominated bonds that have been issued by Bank of Shanghai. It marks the first time a locally incorporated foreign bank has participated in the underwriting of a RMB financial bond in China.

Sources said the Chinese bank would possibly issue $11.7 billion to inject capital into Exim Bank.

Mainland China investors can now capture the potential of small to medium cap companies with HSBC's new fund.

Chinese commercial banks will increase investment in life insurers in view of the strong growth potential in the Chinese insurance sector.

A proposed amendment to the HSBC China Dragon Fund would allow it to conduct on-market repurchases of units of the Fund. But Global Asset Management announced that the amendment requires approval from unit-holders at the General Meeting to be held on 19 October 2009.

A $4 million deal can provide Bank of East Asia Ltd (BEA) entrance into China's fund market.

ICBC introduced 320 varieties of new financial products during the first half of this year to increase its incomes in investment banking, debt financing tool underwriting and corporate financing.

Zhi Zhong Qiu will be responsible for senior client relationships as new Barclays Capital Vice Chairman for Asia Pacific and Chairman of Greater China.

HSBC China launched the two-year first floating rate Renminbi bond with a total issue size of RMB 1 billion in the Hong Kong Special Administrative Region.

HSBC Jintrust's Large Cap Equity Fund raised US$426 million during the initial public offering period in mainland China from 18 May to 19 June 2009.

J.P. Morgan Asset Management (JPMAM) has launched the JF China New Generation Fund, JF’s second open-ended fund investing in China’s A-share markets.

CIMB-Principal Asset Management Berhad is banking on the huge Chinese market for the success of its new Shariah-compliant product. Called the CIMB Islamic Greater China Equity Fund, it offers an investment that gives exposure in the Greater China region, namely China, Hong Kong and Taiwan economies but is Shariah-compliant as well. This open-ended Fund will invest up to 98 percent of the Fund’s Net Asset Value into Shariah-compliant equities and Shariah-compliant equity related securities of companies based in the Greater China region, with the remaining in Shariah-compliant liquid assets. “The CIMB Islamic Greater China Equity Fund is highly anticipated by many of our existing and potential clients. They look forward to capitalising on this opportunity and adding this new Fund to their current portfolio as part of the regional equity portfolio – an important segment for any investor in this current market,” said Mr Tan Beng Wah, Chief Executive Officer of CIMB Wealth Advisors. “Over the long-term, there is no significant difference in performance between a Shariah-compliant and a conventional fund. Therefore investors who diligently wish to observe Shariah guidelines in their investments can do so with confidence that investing the Islamic way will not hamper potential fund performance,” explained J. Campbell Tupling, Chief Executive Officer of CIMB-Principal. The CIMB Islamic Greater China Equity Fund has an approved fund size of 600 million units, with an initial offer price of US$0.0719 per unit. The Fund is also distributed by CIMB Bank, CIMB Private Banking and CIMB Investment Bank with a minimum initial investment of US$287.6. “Our investment team will look at high growth sectors such as industrials and consumers, which are expected to benefit from the economy’s recovery and the US$585 billion Chinese government stimulus package. Various government initiatives such as industrial consolidation, government shopping voucher programme, nationwide insurance and medical care network put in place has gradually increased consumer confidence. Therefore, we believe that this is an opportune time for investors to participate in the growth of the market with our new Fund,” stated Tupling.

Ecofin has launched the Ecofin China Power & Infrastructure Fund--the fund designed to generate compelling risk-adjusted returns in greater China, building on the firm's global expertise in infrastructure and utilities investing. The fund seeks to generate absolute returns with lower volatility than the Chinese market through dynamic portfolio construction based on macro and fundamental research.

China’s auto market has experienced substantial growth over the past decade and is poised to become the largest auto market in the world. With government policies reviving consumer confidence and stemming the fall in auto sales following a dramatic slow down in the domestic economy in 2008, China’s auto market is one of the few that continues to grow. However, shifts in demand means new domestic champions will emerge.

HSBC Jintrust Fund Management Company Limited (HSBC Jintrust) has launched the HSBC Jintrust Large Cap Equity Fund. The heaviest equity-biased product from HSBC Jintrust, the Fund allows Mainland investors to capture the long-term growth of China’s economy.