HSBC goes alternative

hedge-funds/financial-advisers/chief-executive/

27 November 2007
| By Mike Taylor |

HSBC has launched another element in Australia, announcing today that HSBC Alternative Investments will be distributing funds of hedge funds to local wholesale investors.

The company said that HSBC Alternative Investments Limited (HAIL Australia) would target institutional clients as well as asset consultants and financial advisers, offering funds of hedge funds covering a wide range of investment and investor profiles.

Commenting on the move, the chief executive of HSBC Bank in Australia, Stuart Davis, said the establishment of HAIL supported HSBC’s local strategy of making full use of the group’s global strengths and participating in areas where it had a strong competitive advantage in Australia.

“Our strategy sets HSBC apart from other banks in this market because of the role we play within HSBC’s global network, combined with our ability to bring HSBC's global proposition to Australia.”

Davis said HAIL was the third largest client adviser in the hedge funds industry globally and the bank intended to at least match that strength in the Australian market.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

5 months 2 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

5 months 2 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

7 months 3 weeks ago

The RBA has handed down its much-anticipated rate decision, following widespread expectations of a close call....

1 week 3 days ago

The FSCP has issued a written direction to an adviser who charged clients “extraordinary fees” for inappropriate and conflicted advice, as well as encouraged them to swit...

3 weeks 4 days ago

ASIC has confirmed the industry funding levy for the 2024–25 financial year, and how much licensees can expect to pay....

2 weeks 1 day ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Fund name
3y(%)pa
2
DomaCom DFS Mortgage
95.46 3 y p.a(%)
5