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HSBC shuts Duggal’s India hedge fund after outflows

Reuters – HSBC’s asset management arm is to shut down an India-focused hedge fund run by high-profile manager Sanjiv Duggal, in spite of strong returns last year, after cash withdrawals from investors.

A spokesman for HSBC Global Asset Management told Reuters it was to close the India Alpha fund, a long-short equity fund launched in 2007.

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