HSBC Jintrust China Consumption Fund raises $338mln

This was during the initial public offering from 1 November to 3 December, with investors said to be attracted to consumption-themed products tied to China’s growth story.

The HSBC Jintrust China Consumption Equity Fund is managed by Ally Wang who has ten years of experience in securities investment and believes the consumption power of Chinese middle class will continue to increase as their income rises.

“China is currently facing inflationary pressure, and industries with higher pricing power, such as high-end food and beverage, as well as healthcare industries, are likely to benefit. With a well-defined investment objective, the Fund is well-positioned to capture the rapid growth of domestic consumption for years to come,” said Wang.

Steve Lee, Chief Executive Officer of HSBC Jintrust Fund Management Company, said, “Supported by a backdrop of structural economic transformation, robust income growth and the implementation of a social security system, we believe that domestic consumption has stronger potential to be a key driver for China’s growth in the long run.”