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HSBC Global Asset Management introduces CIVETS fund

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HSBC Global Asset Management has introduced CIVETS fund for both retail and institutional investors. The HSBC GIF CIVETS fund targets long-term returns from capital growth and income by investing in a diversified portfolio of equities from the stock exchanges of the CIVETS countries – Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa.

The fund however also has the ability to invest up to 25% in non-CIVETS nations which have similarly attractive demographics, such as Mexico, Nigeria, Philippines, Thailand, Malaysia and Saudi Arabia.

Domiciled in Luxembourg, the HSBC GIF CIVETS fund is part of HSBC Global Asset Management’s flagship Global Investment Funds (GIF) SICAV range which is registered across more than 30 countries worldwide.

Sridhar Chandrasekharan, Global Head of Wholesale, HSBC Global Asset Management, says: "HSBC Global Asset Management is already a world leader in emerging markets, with some USD145bn assets under management in this asset class globally*. The launch of a CIVETS fund extends our product range for clients who wish to use our expertise to access these markets."

The fund is managed by a team of four investment professionals who have an average investment experience of more than 11 years. Douglas Helfer, who has been with HSBC since 2006, and is manager of the HSBC GIF Russia Equity fund, is lead manager of the HSBC GIF CIVETS fund. In this role he will be responsible for the overall country asset allocation decision. His co-managers are Basak Yavuz and Andrew Brudenell, both Frontiers Markets portfolio managers at HSBC Global Asset Management while Nick Timberlake, Global Head of Emerging Market Equities will oversee the overall management of the fund.

The HSBC GIF CIVETS fund will typically hold between 40 and 60 stocks. The base currency of the fund is US Dollar. The minimum investment is $5,000 for retail investors (A share class) and $1 million for institutional (I share class). The fund’s annual management charge (AMC) is 1.75% and 0.875% respectively.

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