PRIVATE EQUITY | Cesar Tordesillas, Hong Kong

HSBC offers Latin equity fund in Hong Kong


HSBC Global Asset Management has launched its Latin American Equity Fund into the Hong Kong retail market.

The portfolio will hold between 50 and 70 stocks.

According to Morningstar data, the Latin American market achieved an annualised return of 21.2 per cent over the past 10 years to 30 November 2010, making it the top performing region globally. This compares with an 18.1 per cent return over the same period for Brazil, Russia, India and China and 15.7 per cent for overall emerging markets.

Furthermore, HSBC stated that four of the top 10 markets with the highest expected GDP growth in 2010 are from Latin America, including Uruguay, Peru, Argentina and Brazil.

Cuervo, who also manages the firm’s US$3 billion Brazil Equity Fund, said: “In addition to commodities, robust consumption supported by a growing, wealthier working population, and stronger currencies are also long-term key growth drivers. While economic growth remains strong, potential monetary tightening is unlikely to have a severe impact on the economy.”

The Fund is available at HSBC branches and other selected distributors with the minimum investment of US$1,000. 

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