HSBC Investments has expanded its emerging market operations by launching a new Russian equity fund.
A sub-fund of the Luxembourg-based SICAV range, the HSBC GIF Russia Equity fund will be run by experienced regional manager Douglas Helfer. Benchmarked against the customised MSCI Russia 10/40 Index, fund will hold an unconstrained 20 to 30 stock portfolio. HSBC has been overweight in Russian equities within its broader Emerging Markets and BRIC funds for most of 2007. Helfer says Russia offers “compelling” investment opportunities, driven by domestic consumption and investment. “Despite their rapid rise, Russian equities still remain attractively valued and amongst the cheapest of the ...
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