HSBC brings its Middle East
North Africa fund to market
BY HELEN BURGGRAF
HSBC Global Asset Management,
the London-based
asset management arm
of HSBC, has launched
a Middle East and North
Africa (MENA) fund that
will invest in companies
with market capitalisations
of more than $100m.
HSBC GIF Middle East
and North Africa Fund will
be managed from London
by Andrea Nannini and his
team at Halbis, the active
FUND FACTS
Domicile: Luxembourg
Annual charge: 1.5% retail,
0.75% institutional
Minimum investment: $5,000
retail, $1m institutional
MENA region growth vs world
%
60
40
20
0
-20
Jun ’05 Dec Jun ’06 Dec
1 Jun ’05 – 1 Aug ’08. Source: Lipper
MSCI Arabian Markets ex Saudi Arabia
management specialist
division of HSBC GAM. It
will be available for sale
in more than 35 countries,
HSBC said.
The fund will be benchmarked
against the MSCI
Arabian ex Saudi Arabia
Jun ’07
MSCI World
Dec
Total Return Index. It will
be able to hold up to 10%
of its 50- to 60-stock portfolio
in Saudi Arabia, and will
also invest in such countries
as Bahrain, the United Arab
Emirates, Oman, Kuwait,
Jordan and Qatar.
Jun ’08
2 S
Mosaic hatches plans for
second property offering
Mosaic Property, a Londonbased
central and eastern
European (CEE) property
fund adviser, is raising
money for a new closedended
Guernsey-based
limited partnership.
The fund, Mosaic CEE 2,
will buy and develop properties
in Poland, Hungary
and the Czech Republic.
John Daly, partner at
Mosaic, said it aims to raise
€200m of equity by the
end of the year to target
approximately €800m of
investment properties and
development sites.
It expects to be fully
invested within three
years of making its first
purchase.
The firm said it will use
its expertise in the retail
property sector to build
“significant exposure” to
the CEE markets. It added
that above-average growth
$50000
$40000
$30000
$20000
$10000
$0
FUND NEWS
FUND FACTS
Domicile: Guernsey
Annual charge: 2%
Min investment: �250,000
in disposable income is
forecast in this region over
the next seven years.
Mosaic CEE 2 will retain
the ability to invest in other
countries in the area as
opportunities arise. These
include a focus on assets of
between €10m and €40m;
the active management
of assets; and cooperating
with local developers
throughout the region.
Mosaic said it intended
to employ strategies that it
used in its first CEE fund,
including a willingness to
boost rents and to make
use of gearing to increase
the yield gap realised by
the fund.
• CFL Fund • IQS Fund • SAV Fund
1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
+2712%
+733%
+395%
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