HSBC has launched its new UAE asset management business and the registration of ten new onshore investment funds with the Securities and Commodities Authority (SCA) of the UAE.

HSBC Asset Management is one of the first global asset managers to establish and register an onshore fund range under the UAE’s evolving investment funds regime, according to a press release.

The major development supports the recent regulatory reforms outlined to encourage global asset managers to create domestic UAE funds and deepen local capital markets.

Meanwhile, the new HSBC UAE onshore funds will provide retail and institutional investors with access to globally diversified strategies.

Mohamed Al Marzooqi, CEO of HSBC Bank Middle East Limited, commented: “Establishing our onshore fund platform in the UAE is a major milestone in HSBC’s strategy to support the country’s ambition to be a critical wealth hub in our international network.”

“By building an asset management business and funds capability here onshore, we are giving investors more choice, more transparency and more ways to grow and protect their wealth in the UAE, into the region and around the world,” he added.

The ten new HSBC UAE onshore funds span a range of asset classes, risk profiles and investment themes, enabling both retail and institutional investors to build diversified portfolios that reflect their goals, time horizons and risk appetite.

Daisy Ho, CEO of Asia and Middle East, HSBC Asset Management, mentioned: “We bring global expertise, but we are committed to providing solutions that are accessible and designed with the unique needs of the UAE’s sophisticated investor base in mind.”

Meanwhile, James Grist has been appointed as the General Manager of the UAE entity, leading the development and growth of the onshore funds platform and broader investment capabilities in the country.

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