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HSBC AM turns to ‘Civets’ for new fund

HSBC AM is launching a Civets fund as it expands its emerging market capabilities.

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The Luxembourg-domiciled HSBC GIF Civets fund will invest in a diversified portfolio of equities from the six Civets countries – Colombia, Indonesia, Vietnam, Egypt, Turkey and South Africa, but will also be able to invest up to 25% in nations such as Mexico, Nigeria, Philippines, Thailand, Malaysia and Saudi Arabia.

The fund, lead managed by HSBC GIF Russia Equity Fund manager Douglas Helfer, will typically hold between 40 and 60 stocks. The minimum investment for retail investors is $5,000, and the AMC is 1.75%.

"The launch of a Civets fund extends our product range for clients who wish to use our expertise to access these markets," said Sridhar Chandrasekharan, global head of wholesale at HSBC Glonal Asset Management.

As of 28 February, the fund’s target allocation had 16% in Colombia, 25% in Indonesia, 1.5% in Vietnam, 7.5% in Egypt, 25% in Turkey and 25% in South Africa.

Separately, Castlestone Management, one of the first fund houses to launch a ‘Next 11’ offering, is also preparing to launch a Civets fund later this year.

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