HSBC adds sterling share classes to absolute return funds

HSBC has introduced hedged sterling share classes for its recently launched absolute return vehicles - the GIF European Equity Alpha and GIF Global Emerging Markets Equity Alpha funds.

Run by Vis Nayar, the European Alpha Equity fund seeks opportunities across developed Europe, investing primarily in equities and equity swaps. It targets equity-like returns with a maximum annualised volatility target of 10%, with minimal correlation to European equities. The GEM Equity Alpha fund is managed by Omar Negyal and Nick Timberlake. The high conviction long/short portfolio targets annual returns of 10% to 15% based on approximately 10% volatility with limited market correlation. Both Ucits III funds were launched in April this year. Head of alternative distribution C...