HSBC launches first CIVETS fund

CIVETS stands for the following group of countries - Columbia, Vietnam, Egypt, Turkey and South Africa. Called the HSBC GIF CIVETS fund, it's aiming for long-term returns from capital growth and income by investing in a diversified portfolio of equities from the stock exchanges of the CIVETS’ countries. The Luxembourg-based fund may also invest up to 25% in non-CIVETS’ nations which have similarly attractive demographics, says HSBC. So investors can also expect to see in the fund equities from the stock exchanges of Mexico, Nigeria, Philippines, Thailand, Malaysia and Saudi Arabia. Do...