HSBC Private Bank launches onshore fund of hedge funds.
Global Banking News - 16 October 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk
HSBC Private Bank, part of HSBC Holdings Plc (LSE: HSBA) (NYSE: HBC) (HKG: 0005), has launched an onshore fund of hedge funds for affluent class and institutions that will meet investors' renewed focus on transparency into hedge funds' strategies and the ability to withdraw money at short notice.
The UCITS AdvantEdge fund will initially invest in 15 'blue-chip' hedge funds and is expected to grow over time to include about 25 funds. It covers four core strategies: discretionary macro, equity market neutral, managed futures and equity long/short.
The fund is being launched under Europe's Undertakings for Collective Investments in Transferable Securities, or Ucits, a regulatory framework that allows a fund to be freely marketed across Europe as long as it meets certain criteria relating to transparency, valuation and risk. The fund will be formally launched at the end of November.
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|Publication:||Global Banking News (GBN)|
|Date:||Oct 16, 2009|
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