HSBC launches emerging market debt duo

The funds, HSBC Global Emerging Markets Local Debt and HSBC New World Income, are part of the HSBC Group’s Luxembourg-based Global Investment funds SICAV, which has UK distributor status. The Local Debt fund will attempt to outperform major local market benchmarks by 3pc per annum, and differs from many debt funds because its investible universe consists primarily of emerging market sovereign and corporate debt denominated in local currency. It will have a minimum allocation of 60pc to local currency EMD with the remainder in hard currency bonds and a small allocation to corporate EMD...