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HSBC opens up Bric fund after soft launch

HSBC Investments is bringing its Bric market equity fund to the UK market.

The Brazil, Russia, India and China portfolio, which was soft-launched in June 2006, is a sub-fund of HSBC’s Luxemburg-domiciled Sicav range, which has UK distributor status.

The fund is managed by Sinopia Asset Management, which operates as the quantitative management specialist of the HSBC Group.

The GIF Bric markets equity fund has $180m under management and is run by Patrick Gautier who looks to outperform the MSCI Bric Index through a mixture of country allocation, stock selection and exposure management.

The fund is diverse, ranging from 70 to 120 stocks, while country weightings are 10 per cent either side of the equivalent weightings in the MSCI Bric market-cap weighting index.

Worldwide Financial Planning managing director Peter McGahan says: “Although the fund has performed well, investing in something which was soft-launched six months ago can often bring its own problems.

“Not only has does it not have a track record but we also have yet to see the fund returns when markets are not performing, especially when they are as volatile as these.”

The initial charge on the fund is 5.54 per cent and annual 1.5 per cent. Commission is 3 per cent initial and 0.5 per cent trail.

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