Hwang-DBS Global Emerging Markets Fund (GEMF), a feeder fund that focuses on equity exposure in emerging markets, has been fully subscribed after sales reached the RM150 million mark on Feb 13.
Hwang-DBS Investment Management Bhd (HDBSIM) said the flagship fund offered 300 million units at 50 sen per unit and it was launched on Jan 11.
HDBSIM’s chief executive officer and executive director Teng Chee Wai said, on Feb 15, that the GEMF was the fifth global focused fund and the fourth to be fully subscribed within such a short time.
“We believe that GEMF could, over the long term, potentially provide investors with positive returns for capital appreciation,” he said.
He was confident of high return potential of emerging markets, as the prospects of economic and equity growth in such markets could be faster compared to developed countries.
“Overall, the outlook for 2007 remains upbeat, as global economies in general entered the year in relatively good shape. Nevertheless, we will remain vigilant about shifts that could affect the fund, even under such promising conditions,” Teng added.
Sunday, February 18, 2007
Subscribe to:
Comments (Atom)