ABN AMRO has launched what is believed to be the first guaranteed gold fund in Hong Kong. The fund will be denominated in New Zealand dollars and has a minimum capital guarantee of 110% after maturity. The fund, which has a relatively short maturity, is targeted at investors holding New Zealand dollars and others looking at the upside potential of both gold and of the New Zealand dollar.
Market conditions for gold are significantly more encouraging than they have been for years, says Solange Rouschop, the bank's head of structured asset management. We believe the market will remain favourable and generate still more interest in gold.
ABN AMRO is positive both on the gold price...
