With £1.36 billion of assets, the HSBC GIF BRIC Freestyle fund is one of the world’s largest actively managed funds dedicated to investing in the Brazil, Russia, India and China (BRIC) markets.
The fund, which is managed by active management specialist Halbis, is part of HSBC’s Luxembourg-domiciled global investment funds (GIF) Sicav, which has UK distributor status and is registered for sale in over 30 countries around the world. The minimum investment is US$5,000.
Halbis has a multi-country team responsible for the management of the GIF BRIC Freestyle portfolio. Collectively these country teams are responsible for stock selection. They also provide input to the overall asset allocation of the fund, which is ultimately determined by Nick Timberlake, the lead Halbis fund manager based in London along with the rest of his global emerging markets equity team.
HSBC Investments global head of emerging markets business Christian Deseglise says: “Over the past eight months, the markets in which this fund invests have grown in size and liquidity, and depth has improved. This has increased capacity to a level whereby it is now appropriate to re-open the fund. We will continue to watch the capacity issues closely and are fully prepared to close the fund again to protect clients’ interests.”
“The outlook for BRIC markets and the fund remains positive. Global growth and liquidity remain supportive, whilst macro economic conditions in BRIC markets are robust. Domestic demand in the BRIC economies is growing, providing solid support for many equity sectors. Valuations remain attractive but are trending higher. All of this indicates that the BRIC story is even stronger than before. We are confident that these markets will deliver good returns over the long term.”