HSBC announces the launch of HSBC Investments and HSBC Halbis Partners to replace HSBC Asset Management.
HSBC Investments will be the new global investment solutions platform of HSBC, specializing in the development of the full range of products and services for personal and corporate investors. It will focus on meeting client needs using in-house investment capabilities or those of the best managers in the market.
HSBC Investments will manage assets of around US$140 billion in retail mutual funds and lifecycle products, portfolios for private clients and institutions, and institutional money market funds.
HSBC is also establishing HSBC Halbis Partners as a distinct business specializing in fundamental active investment. It will focus on selected areas such as global fixed income, European equities, Asian and global emerging markets equities, and some alternative strategies. Around 200 investment professionals from HSBC Asset Management and HSBC Alternative Investments will be part of HSBC Halbis Partners, managing assets of around US$65 billion. In the UK, HSBC Alternative Investments Limited has been renamed HSBC Halbis Partners (UK) Limited.
“Our new strategy has been designed to address challenges faced by our industry and meet ambitious growth targets in the coming years,” Alain Dromer, chief executive officer of Group Investment Businesses at HSBC said. “HSBC Investments will distinguish itself by focusing on best-in-class client solutions for all types of investor served, using our world-class Multimanager capability and other in-house investment capabilities as appropriate. For customers seeking pure performance or ‘alpha’, we believe that large all-encompassing firms are not best placed to provide this. We have therefore created HSBC Halbis Partners, which will compete with the best active institutional investment managers in its areas of focus.”