The fund is designed for both retail and institutional investors, both onshore and offshore.
It will offer weekly liquidity, and aims to combine a number of strategies: discretionary macro, equity market neutral, managed futures and equity long/short.
The fund will be managed by Tim Gascoigne, head of portfolio management at HSBC Alternative Investments.
The fund will officially be launched at the end of November. It will be available in Britain and will have a sterling share class.
The minimum investment in the fund is €25,000 (£23,400).