Another "first" for the Financial Services Practice Group 20 July 2007 Jeremy Lam and Deepak Mahtani of the Financial Services Practice Group have recently received formal SFC approval for the first "130/30 fund" to be authorised for public marketing in Hong Kong for INVESCO. The fund's name is INVESCO Pan European 130/30 Equity Fund. This is an innovative product which has featured prominently in recent financial articles and newsletters and may "open the retail door" to other similar products of its genre in Hong Kong. 130/30 funds adopt a long/short investment strategy and are, according the financial media, "sweeping the financial services industry and raking in billions". Such funds, whose 130% refer to the percentage of its portfolio in long positions against a 30% short position, are being called the "missing link" between alternative investments and traditional asset management industries. This is the most recent in a long line of 'firsts' for FSPG referring to obtaining authorisation for new and innovative investment products in a variety of jurisdictions.