HSBC Rolls Out Discretionary Wealth Management For MENA Region

Eliane Chavagnon

12 September 2012

HSBC has launched discretionary wealth management services in the Middle East and North Africa, giving customers access to their own segregated investment portfolios.

Each portfolio is structured so that the asset, liabilities, liquidity and investment terms of each portfolio is segregated from those of other investors, the firm said in a statement.

The service is provided via HSBC Global Asset Management - which has over $400 billion funds under management globally - and is designed for customers with at least $1 million in investable assets.

"With this new offering we bring an enhanced solution for one of our key customer segments," said Francesca McDonagh, regional head of retail banking and wealth. Successful individuals with "heavy demands on their time" can now delegate the responsibility of managing their investment assets, she added.

At the end of August, HSBC Global Asset Management launched the HSBC GIF India Fixed Income fund. The UCITS-compliant fund is, the bank believes, one of the first of its type offering exposure to a market difficult for international investors to access.