HSBC Republic closes fund of hedge funds
UK - HSBC Republic Investments has closed two of its fund of hedge funds to new investors after raising $55m (£30m) within a month of their launch.
The firm launched the HSBC Alpha AdvantEdge fund and the HSBC Leveraged Alpha Advant-Edge fund at the end of February. In order to boost returns, the leveraged fund will borrow $1 for every $1 raised from investors, which increases the amount it can commit to positions.
The two funds are designed to take advantage of stock-picking opportunities globally and to provide investors with performance through a portfolio of underlying equity long/short funds.
HSBC Republic head of marketing, Jamie Murray said: “The HSBC Alpha AdvantEdge Funds offer flexibility both in their investment strategy and their monthly redemption facility.
“The two funds were launched to provide vehicles for investors concerned about potential volatility in equity markets, but who still wished to participate in these markets.”
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