Printer Friendly

HSBC Private Bank launches onshore fund of hedge funds.

Global Banking News-16 October 2009-HSBC Private Bank launches onshore fund of hedge funds(C)2009 ENPublishing -

Global Banking News - 16 October 2009(c)2005 - Electronic News Publishing -

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.

[Editorial queries for this story should be sent to]

((Distributed via M2 Communications -
COPYRIGHT 2009 Normans Media Ltd.
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2009 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:Global Banking News (GBN)
Date:Oct 16, 2009
Previous Article:Nomura releases Algorithmic Trading Strategies for US markets.
Next Article:BBVA gets 80% approval for preferred stock swap.

Terms of use | Privacy policy | Copyright © 2019 Farlex, Inc. | Feedback | For webmasters