HSBC looks to telephony from Europe

HSBC Asset Management is overweighting mobile telephony, data communications and asset management in its European Growth fund, writes Jane Wallace. The fund manager, Chris Rice, believes that these sectors will benefit the most from the new business models created by the increased use of the internet and mobile phones. He said: "Japan led the technology field in the 1980s with minaturisation such as the Walkman and the US did so in the 1990s with PCs. Mobile phones will be a bigger industry than the PC market and Europe already has a leading position in it. I confidently predict that No...