NEWS - HEDGE FUNDS
Categories: Hedge Funds
Topics: Funds of hedge funds | Hsbc investments
HSBC is to wind up its $100m listed Global Absolute fund of hedge funds following a vote by shareholders.
The board of the fund, which having been listed since November 2001 is one of the sector's oldest, proposed the voluntary wind up in March, blaming a discount to NAV currently 13.7%, and inadequate liquidity in its shares. The announcement of the revue in late January boosted its shares by 4%.
Shareholders will have their investment in the rolled over into the $100m HSBC Ucits AdvantEdge fund, which launched in October 2009.
Categories: Hedge Funds
Topics: Funds of hedge funds | Hsbc investments
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