HSBC Amanah unveils Shariah-compliant multi manager fund

17 November 2005

DUBAI -- HSBC Amanah yesterday launched HSBC Amanah Investment Funds plc, an open-ended investment company with variable capital.

The company comprises three regional Funds: the Americas Equity Fund, the Pan-European Equity Fund and the Asia-Pacific Equity Fund.

The funds are brought to the market by HSBC Amanah in conjunction with the Multi manager team of HSBC Investments.

The Multi manager team adopts a robust manager selection process, whereby 'best-in-class' investment advisers are selected for each portfolio, and performance is monitored to ensure consistency of returns over time. "The concept of a manager of managers has been well received by investors. Multi manager is a dynamic and fast growing asset class, growing at a rate of 14 per cent per annum. Diversification reduces risk and offers investors the chance to benefit from a wide spectrum of expertise and investment styles across geographical markets," said Navid Goraya, Managing Director, Global Head Wealth Management Group, HSBC Amanah.

HSBC Amanah provides advice to the Funds through its Shariah Supervisory Committee. Investments made into these Funds will be divided equally between the three geographies giving customers a balanced exposure to all three regions.

However, should an investor have a stronger view in favour of one region over another, they have the added flexibility of having a custom-made regional allocation between the Funds.

The Funds are available from HSBC Bank Middle East Limited regional network, the Saudi British Bank and HSBC Investments (UK) Limited.

BY A STAFF REPORTER