HSBC GAM has appointed Citywire + rated manager and emerging markets expert Stephen Tong to its global equity team, the group has announced.
Tong joins from Swiss firm Vontobel Asset Management, where he had been head of emerging market equity.
It is understood Tong has yet to be assigned to any funds in his capacity at HSBC Global Asset Management.
He brings with him almost 30 years of market experience, having previously worked as a strategy consultant at advisory group Bain & Company and having overseen both Japanese equity and global thematics at AllianceBernstein.
Commenting on the appointment, Melissa McDonald, global head - equity product and responsible investment at HSBC GAM, said: ‘The decision to strengthen the support for the equity side of our business is an important message to our clients and the market about our confidence in the future.’
The Vontobel Fund Sustainable Emerging Markets Leaders fund lost 3.2% over the 12 months to the end of February 2014. Its benchmark, the MSCI EM (Emerging Markets) TR USD, fell 5.67% over the same period.
On a three year basis to the end of February 2014, the Vontobel Fund Sustainable Asia (Ex-Japan) Eq B returned 8.5% compared to a rise of 10.01% by the MSCI AC Asia Pacific ex Japan TR USD, its Citywire benchmark.