Goldman Sachs is third sub-advisor for China Funds
HSBC has appointed a new sub-adviser to assist investors through its multimanager approach with the Chinese equity markets.
Though its re-opened HSBC MultiAlpha China Fund's small-cap bias remains unchanged, HSBC new investment adviser will focus on large-cap stocks in order to smooth out the short-term fluctuations, improve liquidity and enhance risk diversification of the Fund.
Atlantis Investment Management Limited and Martin Currie Investment Management Limited have been sub-advisers of the Fund since its inception. Goldman Sachs (Asia) L.L.C. has been appointed the third sub-adviser, effective 21 May 2009.
"With three sub-advisers, each with different expertise, the Fund is now better positioned to capture a broader range of opportunities over the long term," said Bonnie Lam, Director and Head of Wholesale Business, HSBC Global Asset Management in Hong Kong.
HSBC MultiAlpha China Fund provides investment specialists for collective management under the supervision of HSBC Multimanager.
"Despite the global economic slowdown, we see an increase in China’s fixed asset investments and loan growth, as well as an improvement in the manufacturing sector in the first quarter of 2009 as a result of the Chinese government’s economic stimulus measures. In view of these positive signs of recovery and the current attractive valuations at historic levels, we believe now is a good time to re-open the HSBC MultiAlpha China Fund," stated Lam.
The HSBC MultiAlpha China Fund invests in a full range of Chinese equity markets, including A-shares, B-shares, H-shares, Red-Chips and P-Chips. This was one of the first Chinese equity funds offered in Hong Kong using a multimanager approach.
James Hughes, Director and Head of Multimanager, Asia-Pacific, HSBC Global Asset Management, said: "As no single manager can outperform in all market cycles at all times, a multimanager approach can add value to a portfolio by combining excellent managers with complementary styles."
