HSBC goes alternative
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.
AUTHOR
Mike Taylor
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