(28 November 2007 – Australia) HSBC is targeting wholesale investors including institutional clients, asset consultants and financial advisors with its funds of hedge funds proposition.Known as HAIL, the acronym for HSBC Alternatives Investments Limited, it will specialise in absolute return funds and tailor made diversified portfolios of hedge funds to Insto clients.
HSBC said the fund had been created for investors seeking high alpha returns who were not concerned with short term liquidity.
HSBC chief executive for Australia, Stuart Davis, said HAIL supported HSBC’s local strategy of making use of the HSBC group’s global strengths and participating in areas where the bank had strong competitive advantage in Australia.
He said HAIL was the third largest client advisor in the hedge funds industry globally and it intended matching that strength in the Australian market.