HSBC Republic estimates it will have raised £125m for its closed-end fund of hedge funds when i...
HSBC Republic estimates it will have raised £125m for its closed-end fund of hedge funds when it begins trading on 28 November. The fund has two measures to control its discount and premium. Up to 25% of the shares in issue are capable of being redeemed at NAV every six months, and there is the potential use of a share buyback authority to repurchase shares at a narrow discount to NAV. The product, as first reported in Investment Week, will be a closed-ended Guernsey incorporated company listed on the London Stock Exchange, and is available for sterling or dollar investments. It aim...
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