HSBC Launches Activist FoF

Mar 7 2007 | 10:17am ET

HSBC Management Guernsey has launched the HSBC Special Opportunities Fund, a fund of funds, with US$299 million in assets.

The fund, designed for investors with a long-term investment horizon, focuses on activist and turnaround specialists, as well as event-driven, merger arbitrage, distressed and equity long/short shops, according to the firm. Its portfolio is relatively concentrated, with some 20 managers at launch.

“There is currently a good market opportunity for this style of investment. More hedge funds are taking an activist style of investing,” said Jamie Murray, global head of institutional business development at HSBC Alternative Investments, the FoF’s investment adviser.

“Many hedge funds are launching funds with or applying longer lock-ups, and the current investment environment is benefiting many managers in the event-driven area, such that many saw good performance in 2006.”

HSBC manages some $38 billion of client assets currently invested in hedge funds as of the end of December 2006.


In Depth

U.S. Treasury Moves on Reinsurance Loophole

Apr 24 2015 | 5:11pm ET

The U.S. Treasury Department has released proposed rules aimed at limiting the ability...

Lifestyle

Artivest Announces Funding Round Led by KKR & Co.

May 4 2015 | 9:56am ET

Artivest, a startup that provides individual investors with access to private equity...

Guest Contributor

Starting a ‘40 Act Fund Family? Don’t Forget Your Board

Apr 30 2015 | 7:18am ET

The convergence of the hedge fund and mutual fund worlds continues unabated, as...

 

Editor's Note