HSBC launches retail fund of hedge funds

HSBC Asset Management has launched the first authorised fund of hedge funds in Hong Kong, the HSBC Global Strategy Hedge Fund. The fund will primarily invest in equity hedge funds with a long/short strategy. The number of funds in the portfolio will vary, but will be around 40. Up to 30% of the fund of hedge fund could be invested in strategies other than equity long/short. These strategies could include global macro or arbitrage.