HSBC markets funds in South Africa

HSBC Bank International has been granted permission to market offshore investments in South Africa and has set up an office in Johannesburg. The move follows the South African government's decision to ease foreign exchange regulation, allowing residents to invest R750,000 offshore. HSBC can now offer South African residents access to its Global Investment Funds range. Martin Spurling, head of international sales for HSBC, said: "South Africa has always been seen as a tremendous expat market, both because of Europeans living in South Africa and because of the number of expatriate South Af...