HSBC GAM closes Chinese equity fund
HSBC Global Asset Management has decided to close its HSBC Chinese Equity fund on 5 October 2018, InvestmentEurope has learned.
The firm confirmed the closure and in a statement to InvestmentEurope said : “The HSBC Chinese Equity fund will close on 5 October 2018 as we believe it is no longer possible to manage the fund in a cost effective manner due to its size. HSBC Global Asset Management continues to offer a wide range of solutions to help clients meet their investment objectives, including other funds that provide access to Chinese equities.”
The fund overseen by HSBC’s Chinese equities head Mandy Chan had been launched in July 2015 and had some £23.89m (€26.6m) of assets under management as of 21 August 2018.
Latest development from HSBC GAM on Chinese equities has been the launch of the HSBC MSCI China A-shares Inclusion Ucits ETF at the end of July.