HSBC Republic, the private banking arm of the HSBC Group, plans to launch a UK-focused investment trust of hedge funds by the end of May.
The trust will be part of the firm's Absolute range of trusts of hedge funds, which currently comprises Global Absolute launched in November 2001, and European Absolute launched in April 2001.
HSBC Republic's new fund, to be called UK Absolute, will share the same structure as its stablemates, which are closed-ended investment companies domiciled in Guernsey and
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