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HSBC mulls Fohf launch

HSBC Global Asset Management is looking at launching a retail fund of hedge funds.

The firm is believed to be speaking to a number of IFAs about demand for the product, which will invest in both Ucits III and hedge funds. Currently at the marketing stage, it could launch later this year.

The product is likely to be run by HSBC Alternative Investments, which currently has £2bn of assets under management.

Chelsea Financial Services managing director Darius McDermott notes: “The product would need to offer something on top of what advisers can access through absolute return strategies, particularly to jus- tify the two layers of charging and also the performance fees associated with most hedge fund offerings.”


FSA bans Chase UK director

The FSA has banned the compliance director of former mortgage packager Chase UK for failing to adequately supervise the firm, leaving it open to fraudulent applications.

Strategic thinking

Bonds continue to dominate sales even as equity markets move ahead and opportunities in fixed interest look less obvious. Spreads over Government debt have narrowed in recent weeks, lessening the blatant investment opportunity managers have been talking of for months. Considering the recent rally, is the story and opportunity in corporate bonds now over? Strategic bond managers certainly do not think so but while they are still favouring the investment end of the market, many are branching into other areas.

Singapore cover image - thumbnail

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