HSBC Asset Management is to regroup its alternative investment unit and has plans to launch a single...
HSBC Asset Management is to regroup its alternative investment unit and has plans to launch a single manager hedge fund business later this year.
The planned head of the new business is Bill Maldanado, director of the alternative investment unit, specialising in derivatives at the group, who worked in the past on structured products and capital guarantee wrappers around some of HSBC's products.
It is likely the business will offer capital guarantee wrappers around single manager hedge funds based on some of HSBC Asset Management's more successful long-only managers.
The group has a reputation in the long-only world for its Growth & Income fund, run by Tim Russell, its European Growth portfolio, managed by Chris Rice, and its Corporate Bond fund, run by Colin Storrar.
In addition to HSBC Asset Management's expertise, the new business will also involve the expertise of the Paris-based quants group Sinopia, a subsidiary of the HSBC group.
HSBC group already has a hedge fund presence in the UK via its private banking arm, HSBC Republic.
HSBC Republic offers single manager hedge funds, although the management of these is sometimes contracted out to third parties. In addition, it offers a number of fund of funds products and targets private clients and institutional investors.
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