HSBC Investments has hired a team of property fund selection experts to work on its multi-manager arm.
The Real Estate Multimanager team will research funds that invest in both physical property and listed property securities throughout the world.
It will consist of seven property specialists headed by Guy Morrell who, in turn, will report to global chief investment officer Joanna Munro.
Morrell and his team will be UK based and have a global remit. HSBC says there are plans in place for additional team members to be based in New York and Hong Kong in the near future.
The UK-based team, which has worked together at HSBC for three years, has transferred internally from HSBC Specialist Investments where it was responsible for analysing and selecting funds that invest in direct property and listed property securities on a global basis.
Munro says: “With the continued evolution of real estate as an asset class, and increasing demand for property fund selection expertise, the addition of a dedicated team of property experts supports our strategy to build upon our powerful global multi-asset class multimanager capability.”
Morrell adds: “HSBC Investments expects that it can enhance its clients’ risk/return profile by having the resources and expertise to research and select what it regards as the best property funds from throughout the world.
“It is important to take a global approach to property fund selection as return prospects vary by country. Furthermore, real estate markets generally show low correlation to each other and to other asset classes.”
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