HSBC Asset Management has begun selling fund of funds products to HSBC bank retail investors in Asia. The multi-manager industry is the fastest growing segment in the funds industry worldwide, says Andrew Leung, regional head for the firm's multi-manager unit in Hong Kong.
Cerulli Associates has calculated that multi-manager assets under management have enjoyed a compound annual growth rate of 8% since 1999 despite a general industry downturn. The research group predicts at this rate, global AUM will hit $770 billion by 2007.
HSBC-AM formally established its multi-manager team in 2000. It now boasts 17 full-time analysts located in New York, London, Paris and Hong Kong, led by Simon Moules,...
