HSBC has this week announced the launch of HSBC Alternative Investments Limited in Australia (HAIL), which will give Commonwealth investors access to new fund of hedge fund investments.
The new venture will launch for institutional investors, financial planners, and asset consultants in January 2008.
HSBC Bank Australia chief executive Stuart Davis spoke out about the new venture, announcing, according to an Investor Daily report, that: "HAIL is the third largest client adviser in the hedge funds industry globally and we intend to at least match that strength in the Australian market."
The HSBC Australia Special Opportunities Fund is set to be the first offering, and will focus on corporate events (such as restructurings, mergers and distressed securities).
Investment decisions will reportedly be made by a committee of fund specialists in the UK, Australia, US, Switzerland, Hong Kong, Japan, and Singapore.
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