Andy Clark, managing director at HSBC Global Asset Management, said: “HSBC is now the number one emerging markets fund manager by both assets under management and number of emerging markets funds available on the UK’s largest fund distribution platform for intermediaries.”

Fund platforms have traditionally been reluctant to offer access to SICAV funds, partially owing to administrative and technical difficulties. Independent research commissioned by HSBC Global Asset Management in 2008 found that 84 per cent of UK intermediaries interviewed would more frequently recommend offshore funds to their clients if they were available through supermarket platforms.

The firm says its most sought after funds include the $2.03 billion HSBC GIF Indian Equity fund, managed by Sanjiv Duggal, $904 million HSBC GIF BRIC Freestyle fund, managed by Nick Timberlake, $2.03 billion HSBC GIF Chinese Equity Fund, managed by Richard Wong and $464 million Brazil Equity Fund managed by Luiz Ribeiro (fund sizes at end October 2008). These funds are among the biggest active managed funds in their respective sectors globally.

HSBC’s SICAVs have UK distributor status and will deal, price and report in sterling.