Britain's HSBC Investments enters Poland with umbrella fund

UK-based HSBC Investments will shortly enter the Polish market, where it will distribute over 40 subfunds of its umbrella Global Investment Fund, company officials said Tuesday.

"We will start distributing the first 11 funds within the next two weeks," Piotr Klinowski, the head of HSBC Investments' investment funds department, told a press conference. "The remaining 40 funds will be available on the Polish market within the next six months. We hope to add at least another subfund to our portfolio this year."

The 11 subfunds with which the company will start its Polish operations will include five Asian equity funds as well as an emerging markets equity fund.

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"These funds offer rates of return at a similar level as the equity funds on the Warsaw Stock Exchange did in the last few years," Klinowski said.

The company hopes its fund will help it become a notable force in Poland and expects to become one of the top three foreign investment funds in Poland within the next two-three years.

HSBC Investments is HSBC's investment platform. Its global assets amount to USD 216.8 mln.

In July, HSBC launched banking operations in Poland, marketing its credit cards to Poles and launching a website in Polish. By the end of this year, the bank expects to launch online banking, personal accounts and mortgage loans in the country.


Source:gielda.wp.pl