HSBC European Alpha Fund assets triple

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HSBC European Alpha Fund assets triple

It has been announced today that the HSBC European Alpha Fund has surpassed a level of $300 million (£172.5 million) after recording a level of $100 million a year ago.

Halbis Partners announced that its ability to effectively manage existing assets was becoming limited by their growth and it would therefore be soft-closing the fund in the near future.

The HSBC European Alpha Fund was launched in January 2003 and has created annual returns of about nine per cent since its beginning.

Last year, the fund generated returns of 10.47 per cent against its market peers while maintaining, the company claims, a low level of risk.

Bill Maldonado, head of Halbis Partners' alternative investments unit, commented on the success of the fund: "Our team celebrated their third anniversary with their best returns yet and they were rewarded by inflows."

Halbis Partners manages around $74.4 billion of assets, while all of HSBC's investment divisions collectively administer about $272.1 billion in funds.

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