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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.”

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