HSBC first to market with ‘Civets’ fund

HSBC_Glbl_Asset_MngmThe first fund to invest in Civets countries (Colombia, Indonesia, Vietnam, Egypt, Turkey, and South Africa) has been launched by HSBC Global Asset Management. The HSBC Gif Civets fund, which is domiciled in Luxembourg and available to both retail and institutional investors globally, can also invest 25% in Mexico, Nigeria, Philippines, Thailand, Malaysia and Saudi Arabia, among other countries with similar demographics. Domiciled in Luxembourg, the HSBC GIF CIVETS fund is part of HSBC Global Asset Management’s flagship Global Investment Funds (GIF) SICAV range which is registered across more than 30 countries worldwide. The Civets nations, which are among the next generation of emerging markets, echo many of the demographic qualities inherent in larger developing markets such as the Bric nations of Brazil, Russia, India and China, the firm said. ©2011 funds europe

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