A new way to invest in diamonds?

The luxury goods market is booming thanks to Asia's growing spending power. And that means increased demand for the most luxurious good of all: diamonds. Hence this new investment initiative.

Anyone that has ever taken a look at the luxury goods industry will understand the importance of Asia in this market. Burberry, Louis Vuitton, Gucci All these companies have a major Asian focus. Indeed, the new Asian wealthy classes appear to be even more label and fashion conscious than the Italians, and that's saying something.

Total wealth of the rich and mass affluent in 12 Asian countries should hit $610bn by 2015 from $301.2bn at the end of 2005, according to a report by MasterCard International. Indeed, Asian consumers now account for as much as half of the global luxury industry. That's some spending power.

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