WEST PALM BEACH, FL (HEDGECO.NET) – HSBC Asset Management is preparing to introduce its hedge fund management services to onshore investors according to a released statement. This strategy is aimedat consolidating the company�s services under one umbrella. HSBC has traditionally catered to institutional investors, but the firm is planning to add staff in order to accommodate non-institutionalclients.
According to Gerald Aguilina, the head of HSBC�s private bank, the firm has introduced what he characterized as �a team approach�, by bringing together various experts in fields such as tax advisory, and derivatives with the hope of introducing hedge fund products aimed at non-institutional clients, and domestic onshore investors.
HSBC has created a new Family Wealth Advisory Services with the hope of launching tailored products targeting the ultra-affluent and family offices. Mary Duke, head of the newly created Family Wealth Advisory Services unit said that single manager hedge funds are important investment vehicles used by advisers to the ultra-rich individuals as well as family offices. Ms. Duke is focusing on bringing such advisory capabilities to onshore domestic clients, through fund of hedge funds structured products.
As part of this strategy, all HSBC private banking units were renamed HSBC Private Bank. Aquilina said he plans to build up potential new investors from private bankers working with investment advisors focusing on clients in the $1-10 million range. HSBC has distribution channels in New York, California and Florida Aquilina said, “We will leverage where we have a presence, where we can add more to the offering in addition to credit.”
HSBC is a global asset manager, offering hedge fund management products to large institutions and ultra-rich investors. Total hedge fund assets managed by the firm are in the range of US$11 billion. .
Paul Oranika
Editor-in-Chief
HedgeCo.Net
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