HSBC GIF Brazil Equity fund hits milestone
www.moneynews.co.uk > Banking > HSBC GIF Brazil Equity fund hits milestone
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Money News |
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HSBC GIF Brazil Equity fund hits milestone
Wed 21st Feb 2007
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Since being launched in August 2004, the fund has reached $1 billion (£510 million), on the back of popularity among investors and its strong performance.
Such is its popularity that the HSBC GIF Brazil Equity fund accounts for over half (55 per cent) of all European funds with a Brazilian equity focus currently under management.
By gaining 195.2 per cent in dollar terms since its introduction, the fund has also outperformed all other peer groups in its class.
Christian Deseglise, global head of emerging markets business at HSBC investments, said that the HSBC GIF Brazil Equity fund had attracted "sophisticated" investors aiming for a slice of a rapidly developing market.
According to a National Association of Investment Banks survey carried out in December 2006, HSBC is one of the five best asset managers in Brazil.
Related News : Banking |
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Related News : HSBC |
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