In 2004 HSBC AFS had over $157bn in total assets under administration, but in the first eight months of 2005, this increased to more than $192bn - a 22% increase in alternative assets under administration. In Europe it saw a 55% increase in AUM, jumping to $82bn from $52.82bn at the end of 2004. It services around 800 funds across Europe and has over 256 clients.
It won some significant mandates in 2005, including Man Group plc ($3bn), Gandhara Capital ($1.35bn) and New Star Asset Management ($552mn).
Its fund administration offices are present in London, Dublin, Luxembourg, Guernsey and the Isle of Man. In June this year, HSBC also opened up shop in Milan, following the Bank of Italy provision allowing custodians to provide full service custody and fund administration services to hedge funds and fund of fund managers to Italy.
It has technology solutions available for every area of the alternative fund-servicing arena, including its private equity operating platform EquiTrack. Other technology solutions include Investor, RiskPlus, Report and FastVal.
- The Shortlist
- Fortis Prime Fund Solutions