HSBCÆs GEM Equity Fund passes $1 billion-mark
Growing demand for emerging market stocks despite "dark clouds" on the horizon.
HSBC Investments' two-month old Global Emerging Markets GEM Equity Freestyle Fund has increased its assets to more than $1.2 billion since March, on the back of strong global demand for emerging markets and a rapid double-digit growth in returns.
The fund initially raised a massive $509 million during its three-week initial public offering period in March, one of the largest public launches of a non-capital guaranteed fund in Hong Kong. It is currently adding $25 million a day from investors...
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