Asian investors fearing an extended bear market are moving their money out of riskier investments and into conservative safe havens. The mutual fund industry is responding to this shift by offering jittery investors alternative, more conservative products.

"There is now a trend to less-risky products, so we are developing some products that serve these needs," Rudolf Apenbrink, the Asia Pacific chief executive of HSBC Investments, told Reuters in an interview. “That may be in the fixed-income area, that may be in the balanced areas, or absolute-return products.”

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