HSBC Global Asset Management re-opens the HSBC MultiAlpha China Fund on 30 April 2009 to allow investors to capture potential growth of the Chinese equity markets driven by the government’s stimulus measures to revive the economy.
Launched in June 2007, the HSBC MultiAlpha China Fund aims to capture the diverse, long-term growth potential in the Chinese equity markets by selecting investment specialists for collective management under the supervision of HSBC Multimanager. Atlantis Investment Management (Hong Kong) Limited and Martin Currie Investment Management Limited have been sub-advisers of the Fund since its inception. Goldman Sachs (Asia) L.L.C. has been appointed the third subadviser, effective 21 May 2009.
“Despite the global economic slowdown, we see an increase in China’s fixed asset investments and loan growth, as well as an improvement in the manufacturing sector in the first quarter of 2009 as a result of the Chinese government’s economic stimulus measures,” says Bonnie Lam, director and head of wholesale business, HSBC global asset management in Hong Kong. “In view of these positive signs of recovery and the current attractive valuations at historic levels, we believe now is a good time to re-open the HSBC MultiAlpha China Fund.”
The HSBC MultiAlpha China Fund invests in a full range of Chinese equity markets, including A-shares, B-shares, H-shares, Red-Chips and P-Chips (privately owned listed companies). This was one of the first Chinese equity funds offered in Hong Kong using a multimanager approach.
“As no single manager can outperform in all market cycles at all times, a multimanager approach can add value to a portfolio by combining excellent managers with complementary styles,” says James Hughes, director and head of multimanager, Asia-Pacific, HSBC Global Asset Management. “Though the Fund’s small-cap bias remains unchanged, we are adding another investment adviser to focus on large-cap stocks in order to smooth out the shortterm fluctuations, improve liquidity and enhance risk diversification of the Fund. With three sub-advisers, each with different expertise, the Fund is now better positioned to capture a broader range of opportunities over the long term.”
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