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.”
A report by Pinsent Masons calls on trustees to be more proactive on the risks posed by climate change, warning it is no longer a 'nice to have'. Stephanie Baxter considers the action points
Capita has set out plans to transform its business and raise £701m in additional capital at the same time as it unveiled a £513.1m annual loss.
Two men were sentenced to jail after luring 16 victims into transferring nearly £1m of their pensions into a non-existent occupational scheme in an "elaborate" liberation scam.
Graham Vidler has stepped down from his position as director of external affairs at the Pensions and Lifetime Savings Association (PLSA) after four years in the role.