HSBC Republic Investments Limited has re-opened its global long/short Alpha AdvantEdge funds following strong investment performance since launch.

Alpha AdvantEdge Fund and HSBC Leveraged Alpha AdvantEdge Limited were launched in January 2004. The funds were originally closed in February 2004, when their asset targets had been exceeded.

The Alpha AdvantEdge Fund and the leveraged version have returned an annualised return of 8.66 per cent and 10.90 per cent respectively, compared with a 6.99 per cent rise in the market indices1 in the period 31 March 2004 to 31 January 2006.

Barbara Rupf Bee, Chief Executive, HSBC Republic Investments Limited (HRIL), says: "The HSBC Alpha AdvantEdge Fund is suitable for experienced investors looking to diversify their global equity portfolios.  It is a good diversifier for equity portfolios having provided more stable returns, illustrated by the reduction of volatility in comparison to global equity markets'.

She added: "The fund offers investors the ability to invest in HRIL's preferred hedge funds in each geographical area within the equity long/short space.  Allocations with the fund are periodically adjusted to take advantage of changing market conditions in order to exploit inefficiencies in world markets."

The funds use a selection of long/short equity focussed funds from the HSBC AdvantEdge range as underlying building blocks.  These relatively concentrated portfolios invest in dedicated geographic regions (the US, Europe, Asia, Japan, emerging markets).  Each portfolio seeks to invest predominately in leading equity long/short funds.

Designed to take advantage of alpha generating opportunities globally, the objective of both vehicles is to provide investors with attractive performance and dampened volatility through investment in the HSBC AdvantEdge range of funds.

Two investment strategies are available:

  • The un-leveraged strategy aims to offer returns in the underlying HSBC AdvantEdge funds held by HSBC Alpha AdvantEdge Fund
  • The leveraged investment strategy, HSBC Leveraged Alpha AdvantEdge Limited, a Guernsey regulated open-ended OEIC, seeks to provide twice the participation in the returns of the Fund minus leverage costs.

Minimum investment in each fund is USD 50,000.  The initial charge is up to 3 per cent of subscriptions and the administration fee is 0.15 per cent per annum of net assets in either vehicle.  Monthly redemptions are available.

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