Reply #45: HSBC reopens BRIC fund

[54anickel]

http://www.whatinvestment.co.uk/254784/hsbc-reopens-bric-fund.thtml

HSBC Investments has reopened its BRIC fund, but has warned it will close it again to protect investors’ interests, if required.
The GIF BRIC Freestyle Fund is dedicated to investing in Brazil, Russia, India and China (BRIC) as is part of HSBC’s Luxembourg-domiciled Global Investment Funds (GIF) SICAV. It was last closed in June 2006 to protect performance for existing shareholders, according to HSBC.

Christian Deseglise, global head of emerging markets business at HSBC Investments, said, ‘Over the past eight months, the markets in which this fund invests have grown in size and liquidity, and depth has improved. This has increased capacity to a level whereby it is now appropriate to re-open the fund. We will continue to watch the capacity issues closely and are fully prepared to close the fund again to protect clients’ interests.’

The fund is registered for sale in over 30 countries including the UK and is currently managed by Halbis, the fundamental active asset management arm of HSBC. It benefits from a multi-country team based in Brazil, India and Hong Kong. Halbis also receives advice from Hermitage, a Russian investment specialist. The overall asset allocation is determined by London-based Nick Timberlake, lead Halbis fund manager.

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