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18 Jan 2010

UCITS III Compliant Fund of Hedge Funds Launched By HSBC

HedgeCo News - HSBC has launched a Sterling Class of its HSBC UCITS AdvantEdge fund of hedge funds. The Fund will comply with the new ‘reporting’ tax regime for offshore funds, allowing UK investors to be taxed at capital gains rather than income tax rates on disposal of their interests.

“The Sterling classes will allow UK investors to gain maximum benefit from the opportunities to participate in the hedge fund sector offered by the HSBC UCITS AdvantEdge fund.” Chris Allen, CEO of HSBC Alternative Investments Ltd, said, ” The hedge fund industry is leaner and fitter as we enter 2010 and as weaker performers continue to withdraw we believe the remaining providers will reap the rewards from their stronger platforms in the coming months.”

The Fund combines a number of core strategies that are expected to benefit from opportunities created by the credit crunch, such as discretionary macro, equity market neutral, managed futures, and equity long/short.

The Fund is a new generation fund of hedge funds, designed to enable both retail and institutional investors to participate in the absolute return opportunities offered by current market conditions via a more liquid and regulated vehicle than a traditional fund of hedge funds.

The Fund offers weekly liquidity, and complies with the strict UCITS III rules concerning leverage, counterparty risk and investments traded. The Fund’s investment manager is HSBC Alternative Investments Ltd, an established adviser of funds of hedge funds.

All underlying UCITS hedge funds under consideration go through its quantitative and qualitative investment due diligence process which has been proven over many years.

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