Citywire Selector - For Professional Investors

Register to get unlimited access to Citywire’s fund manager database. Registration is free and only takes a minute.

HSBC GAM re-opens frontier star’s fund after assets dip

HSBC GAM re-opens frontier star’s fund after assets dip

HSBC Global Asset Management has re-opened its frontier equity strategy almost exactly three years after closing it to new investors following a surge in assets, Citywire Selector can reveal.

The Luxembourg-domiciled HSBC GIF Frontier Markets fund was soft-closed in April 2014 after the frontier markets strategy as a whole broke through $650 million in assets under management.

This was under the stewardship of former manager Andrew Brudenell. In the intervening period Brudenell has joined rivals Ashmore, with Citywire AA-rated Chris Turner having been handed the fund in April of last year.

Turner was joined by formerly Citywire A-rated manager Ramzi Sidani in July 2016, who joined from SHUAA Asset Management to work on the strategy. This was with the fund still closed to new investors.

However, a spokesperson for HSBC GAM confirmed to Citywire Selector that the strategy as a whole was formally re-opened to investors on August 14. This is with assets currently sitting at $618 million.

The HSBC GIF Frontier Markets fund returned 0.7% in US dollar terms over the three years to the end of July 2017. This compares to a fall of 8.3% by the MSCI Frontier Markets TR USD over the same timeframe.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Events
  • Citywire Alternative Ucits Retreat 2017

    Citywire Alternative Ucits Retreat 2017

  • Citywire Milan 2017

    Citywire Milan 2017

  • Citywire Paris 2017

    Citywire Paris 2017

  • Citywire Deutschland 2017

    Citywire Deutschland 2017

  • Citywire DACH 2016

    Citywire DACH 2016

  • Citywire Italy 2016

    Citywire Italy 2016

  • Citywire Milan 2016

    Citywire Milan 2016

  • Citywire Alt Ucits 2016

    Citywire Alt Ucits 2016

  • Citywire Berlin 2016

    Citywire Berlin 2016

  • Citywire Switzerland 2016

    Citywire Switzerland 2016

  • Citywire Amsterdam 2016

    Citywire Amsterdam 2016

  • Citywire Montreux 2016

    Citywire Montreux 2016

  • Citywire Deutschland 2016

    Citywire Deutschland 2016

  • Citywire Latin America 2016

    Citywire Latin America 2016

  • Citywire Milan 2016

    Citywire Milan 2016

  • Citywire Munich 2016

    Citywire Munich 2016

  • Citywire Paris Alt Ucits 2016

    Citywire Paris Alt Ucits 2016

  • Citywire Zurich Alt Ucits 2016

    Citywire Zurich Alt Ucits 2016