HSBC fund launch

HSBC is launching a pan European absolute return fund called HSBC European Absolute Limited for institutional and retail investors. The Guernsey-based fund will hold a diversified portfolio of between 20 and 30 hedge funds invested in European and UK markets.

Paul Dunning, chief executive officer of HSBC Republic, and a team of 10 managers, all based in London, will manage the fund.

Retail investors can purchase HSBC European Absolute shares directly or through IFAs. The offer period is expe