Reuters – HSBC Global Asset Management hopes to raise $100 million pounds for a new emerging markets fund that will use hedge fund tactics to try and make money in all markets. The HSBC GIF GEM Equity Alpha fund will use a Ucits III structure — allowing it to use advanced financial techniques and still be sold to investors across Europe — and will target returns of 10-15 percent a year, the firm said in a statement.
The fund will be run by Omar Negyal, who joined HSBC last year from Lansdowne Partners, one of Europe’s biggest hedge funds, and Nick Timberlake.
