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Portfolio > Investment VIPs

HSBC Fund Grows Fast, with Inflows from Asia and Middle East

By Staff Writer

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NEW YORK (HedgeWorld.com)–The first two months of the year brought a 20% increase in assets for HSBC GH Fund, from US$500 million to US$600 million.

A fund of funds diversified across strategies and worldwide markets, HSBC GH is a sub-fund within a unit trust umbrella that has been authorized in Guernsey. It is registered for sale in various jurisdictions including Japan, Switzerland, Singapore, Lebanon, United Arab Emirates, Bahrain, Jordan, Qatar and Oman.

According to the firm, during January and February US$100 million in new subscriptions came into all currency classes of the fund, including US dollar, euro hedged, Swiss franc hedged and sterling hedged shares, as well as into the leveraged class.

The vehicle is managed by HSBC Republic Investments Ltd., part of the banking group, and offers monthly liquidity with no redemption charge. Paul Dunning, chief executive of HSBC Republic Investments, in a statement attributed the recent inflows to the product’s standing as a well-established and diversified fund of funds with a strong investment track record.

After HSBC acquired the Bank of Bermuda, the latter’s Alternative Class of the All Points Fund of Funds became a feeder to HSBC GH in November 2004. HSBC indicates that the two funds had similar investment policies, and the only change in the HSBC GH portfolio has been a small increase in strategies that typically have relatively low volatility, such as arbitrage and relative value.

HSBC Republic Investments managed more than US$304 billion in total assets as of the end of 2004.

Contact Bob Keane with questions or comments at: [email protected]”>.

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