New product launched for investment in Brazil
Date added: 24th May, 2010 at 10:55
(view all articles from May, 2010)
Categories: Economy
It is now possible to invest in Brazil through a new deal by HSBC on its Brazil Equity Fund.
From 21st May, the reserve is available through Hansard's internal fund link platforms - its Universal Retirement Programme and its Capital Builder product - to clients of Hansard International and Hansard Europe, whether new or existing.
Mark Newsam, head of third party distribution at HSBC Global Asset Management, said: "To be selected for inclusion on this important platform is testimony to high quality and strong demand for the HSBC GIF Brazil Equity Fund."
In 2009, the $2.4 billion (£1.66 billion) reserve returned 156.5 per cent, the fourth best out of 22 funds in the Offshore and International Funds Equity Brazil sector. Over the last year, it returned 139 per cent against a benchmark of 111.1 per cent.
According to a report from the International Finance Corporation, given at the 12th annual Global Private Equity Conference held recently, this demand may be due to Brazil's accelerated growth and strengthening consumerism arising from a burgeoning middle class demographic in the country.
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