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HSBC underpins division with property specialists

HSBC’s specialist institutional property investment team has been transferred to HSBC Investments’ multi-manager division.

The team of 11 headed by Guy Morrell will now have input into HSBC’s multi-manager funds, including its OpenFunds range.

They have worked at HSBC for three years, analysing and selecting funds that invest directly in property and listed property securities for institutional clients.

HSBC Investments says the team will provide the capability to offer specialist property mandates and funds of funds further down the line.

They are based in the UK but will have a global remit for fund selection. HSBC Investments plans to add more members to the team based in its New York and Hong Kong offices.

The move was prompted by greater interest in property as an asset class and increasing demand for experience in property fund selection, particularly in relation to HSBC’s multi-asset multi-manager funds.

Spokeswoman Jenne Mannion says: “The team will eventually launch their own funds of funds but there are not any immediate plans in the pipeline. They are settling in and will look at launching new funds in the future.”

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