The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Will SARS be the Next Big Thing Holding Back Funds? Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, April 28, 2003

Will SARS be the Next Big Thing Holding Back Funds?

by: Sean Hanna, Editor in Chief

Could the recent SARS outbreak add to list of travails faced by the fund industry? At a time when both a bear market and world politics are taking down trading the outbreak could take activity in the industry another notch down. Just look at what is happening in Asia.

Activity in fund shops in Hong Kong has slipped noticeably, reports Reuters. JPMorgan Flemming Asset Management's JF Funds, for one, has seen customer traffic through its branches fall by 20 percent since the Severe Acute Respiratory Syndrome (SARS) outbreak began. In response, the manager of $31 billion in assets cancelled investor workshops.

Meanwhile Singapore-based AIB Govett (Asia) Ltd has pushed off a planed launch of a new retail fund in Singapore until either the third quarter. It had been planning to open the fund in late May or early June, reports Reuters.

The news agency reports that fund investors have switched to using the phone and the Internet to conduct their business. JF Funds says that in-coming phone calls are up by 40 percent.

If SARS were to spread into North America (currently the largest outbreak here is in Toronto), fund firms could take some comfort in the fact that American fund investors are generally well ahead of Asians in using the Internet and phones to purchase shares. Net access in much of Asia is far more costly than in the U.S. and investors there prefer more face-to-face contact than Americans.

Still, any event that prolongs the sense of ennui among investors cannot be a positive for fund firms. You had better start planning now just in case.  

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2020: Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2020
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use