RIYADH, 2 March 2008 — HSBC SA Ltd. has started receiving subscription applications for its new investment Shariah-compliant “HSBC Global Emerging Markets Fund” subsequent to the success of its other funds previously launched.
HSBC Global Emerging Markets Equity Fund (GEM) aims to provide long-term capital growth by investing in a diversified portfolio of Shariah-compliant equities with an official listing on a major stock exchange or other regulated markets of emerging market countries, as well as in equities of companies listed on other stock exchanges and regulated Markets which carry out a substantial part of their economic activities in an emerging market country. The fund will pursue its objective through active management of a portfolio of Shariah-compliant equities.
The fund’s investment universe will comprise more than 15 emerging market countries; typical emerging market countries include Brazil, Russia, China, Taiwan, South Korea, Mexico, India and South Africa with a possibility to invest in any geography falling within the scope of emerging markets depending on the emerging opportunities.Subscription applications will be received during the initial launch period, which extends to March 5 at a price of $10 per unit. Investment will be available to the company’s customers and other non-company investors. The fund is open-ended and subscription applications will be accepted after the initial launch period. The actual fund investment date will be March 6.