Fund of hedge funds from HSBC

HSBC Republic, the private banking subsidiary of HSBC Group, plans to launch an investment trust of hedge funds. The portfolios will be part of the firm's Absolute range of trusts of hedge funds, which comprises Global Absolute, launched in November 2001, and European Absolute, launched in April 2001. The new fund, UK Absolute, will share the same structure as its stablemates, as a closed-ended investment company domiciled in Guernsey and listed in the UK. The trust is expected to be launched in April or May and will be managed by a team led by head of alternative investment Pet...