My friend just got news of HK$500K into her HSBC account. She asks me how to invest this cash. She will retire from her HK employer soon and has a fully paid flat in MaOnShan. She has been invited to consult with an HSBC money manager and i won't be there to listen.
Seems no bank here will offer more than 1% on savings (some offer only 0.0%), and i do not know if bank accounts in HK have any govt guarantee against bank loss, as found in USA. Premium accounts here may offer better rates. She certainly does not need much risk but even at 1% return she will be losing money to inflation every year.
I looked at Vanguard USA ETFs and found only one on offer, S&P 500 Index, which is creeping around 3% past year, up and down. And fees are low. But where to purchase this fund in HK is my question. Will HSBC brokerage offer this to her and can she buy this ETF thru that bank?
She also has a BOOM brokerage account.
The USA market looks the best to me, i cannot advise investing any money in china, even if the past returns are high.
Any comments and ideas welcome. Thanks.