HSBC Global Asset Management has widened the pool of investors who can access its New Frontiers fund to include institutions and high net worth investors.
Previously only available to customers of HSBC Private Bank, the Luxembourg specialist investment fund (SIF) will now offer an institutional share class with a minimum investment of $5m (£2.52m) and a high net worth share class with a minimum investment of $1m (£504,000).
The $300m fund, managed by Andrea Nannini at HSBC’s active investment specialist Halbis, invests in a bespoke universe of frontier emerging markets, including countries such as Jordan, Colombia, Morocco, Mauritius, Kazakhstan and Vietnam.
The fund is available by private placement, although HSBC is looking to limit the amount of funds raised, as frontier markets can be very illiquid.
Meanwhile, Schroders has launched a Global Emerging Market Commodity Equity fund in its Luxembourg Sicav range.
The fund, a Korean version of which was launched in April and has already raised $50m, does not yet have FSA recognition, but Schroders is looking to launch a sterling distributor share class by the autumn.
Managed by Allan Conway and Robert Davy, the fund is benchmarked against the Energy and Materials sectors of the MSCI Emerging Markets index, weighted by market capitalisation.
Finally, Fincere has launched an emerging markets hedge fund. The Fincere Emerging Markets Portfolio fund has a minimum investment of $100,000 and will have a remit to invest in fixed income, commodities and derivatives in all emerging markets.
The fund is managed by Manuel Dopazo and Natalia Navarro and will initially target commodity-rich high net worth investors in South America, though it is expected to be rolled out to institutions in the US and Europe within 12 months. The fund is administered by LaSalle Global Trust Services in Dublin.
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