04 May 2005
HSBC has launched HSBC Investments and HSBC Halbis Partners, to replace its HSBC Asset Management entity from May 2005.
HSBC Investments, with a network of offices worldwide, will be the new global investment solutions platform of HSBC, specialising in the development of the full range of products and services for personal and corporate investors. It will manage assets of around US$140 billion in retail mutual funds and lifecycle products, portfolios for private clients and institutions, and institutional money market funds. The fast-growing Multimanager capability of HSBC will be a part of HSBC Investments, enabling it to offer customers 'best-in-class' solutions.
HSBC is also establishing HSBC Halbis Partners as a distinct business specialising in fundamental active investment. In order to compete with the best, it will focus on selected areas such as global fixed income, European equities, Asian and global emerging markets equities, and some alternative strategies. Around 200 investment professionals from HSBC Asset Management and HSBC Alternative Investments will be part of HSBC Halbis Partners, managing assets of around US$65 billion. In the UK, HSBC Alternative Investments Limited has been renamed HSBC Halbis Partners (UK) Limited.
Alongside HSBC Halbis Partners, there are ambitious plans for the development of two existing specialist investment businesses, namely Sinopia, the quantitative and structured product manager, and HSBC Specialist Investments, the property and infrastructure company.
Alain Dromer, chief executive officer of Group Investment Businesses at HSBC said: "Our new strategy has been designed to address challenges faced by our industry and meet ambitious growth targets in the coming years. HSBC Investments will distinguish itself by focusing on best-in-class client solutions for all types of investor served, using our world-class Multimanager capability and other in-house investment capabilities as appropriate. For customers seeking pure performance or 'alpha', we believe that large all-encompassing firms are not best placed to provide this.
"We have therefore created HSBC Halbis Partners, which will compete with the best active institutional investment managers in its areas of focus.
"These new businesses and our existing specialist investment companies will allow us to better meet clients' needs and compete with the best."
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