Amanah Investments Funds

All HSBC Amanah Investment Funds are managed in an active manner with limited constraints on corporate capitalisation and sector allocation, within the geographical guidelines given to the investment adviser.

The investment mandate is thus designed to give the opportunity to generate longterm returns through a combination of income and capital growth. What's more, the Multimanager team actively monitors the performance of the investment advisers and should this performance fall short of expectations, the investment adviser will be put under review and eventually could be replaced with a new investment adviser.

HSBC believes that no investment house can achieve the highest level of performance across all market segments. To translate this idea into a workable solution for our clients, the Multimanager team, based in London, Paris, New York and Hong Kong has been established with a mandate to search and engage leading investment advisers for each asset class, investment style, geographical market and industry sector.

Firstly, the Multimanager team monitors the performance of the leading international fund management houses on several measures of risk and return to identify potential candidates that satisfy a range of quantitive thresholds.

Secondly, the Multimanager team examines the company structure and management teams of the investment advisers to seek evidence of any strengths, weaknesses or style bias. The global resources available to the Multimanager team enable the unit to perform in depth analysis of investment advisers, conducting face-to-face interviews and collecting the necessary information to the extent that only a financial institution like HSBC would be able to access.

Despite world economies and financial markets becoming increasingly integrated, it makes sense to look for investment ideas with a refined focus as local dynamics do also affect stock performance. For this reason, HSBC Amanah Investment Funds comprise of three Funds:

Americas Equity Fund
The Americas Equity fund covers a geographical area where the USA represent the large economic entity in which investment opportunities are greatest. However, besides investment opportunities in the USA, opportunities are also available in Canada and Latin America. As such, subject to identifying suitable Shariah-compliant companies, the Fund may take selected exposure outside the USA to improve the total return to investors.

Wellington Management Company LLP has been appointed as the investment adviser of this Fund. Wellington Management began managing clients assets in 1928 and has a significant presence in all major sectors of the global capital markets, with more than US$470 billion in total assets under management, of which over US$30 billion are in ethical, socially conscious and screened portfolios. Wellington Management has a long track record of managing global and specialist funds according to Shariah guidelines.

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Pan-European Equity Fund
The Pan-European Equity Fund adopts a wide definition of Europe beyond the nucleus of countries forming the European Union. An increasing number of neighbouring countries are becoming more integrated to the largest European nations, leading to a faster pace of economic activity, political and market reform. As such the Fund will look for investment opportunities in the core European markets as well as, selectively, in those markets representing 'Emerging Europe'.

Pictet Asset Management UK Limited has been selected to manage the Pan-European Equity Fund. This investment adviser is ultimately owned by a Swiss private bank, founded in 1805, focusing exclusively on the management and custody of private and institutional assets, with over 132 billion in assets under custody and management, and a comprehensive range of funds covering conventional and specialised asset classes.

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Asia-Pacific Equity Fund
The Asia Pacific region is characterised by an interesting mix of developed and developing countries that are becoming increasingly economically integrated with each other. On the one hand there are countries with mature economies like Japan, Australia and Hong Kong; on the other hand there are countries previously referred to as Asian Tigers in the 90's, like Malaysia and Thailand who have experienced rapid economic growth and are still on the road to development. It is in this context that the Fund will look for Shariah-compliant investment opportunities with the assistance of Aberdeen Asset Management, the investment adviser selected for this region.

Aberdeen Asset Management has been selected to manage the Asia-Pacific Equity Fund. Listed on the London and Singapore stock exchanges, Aberdeen Asset Management is an international investment management group, managing assets for institutional clients around the world. Aberdeen's Asian equity team is headquartered in Singapore, with investment managers also based in Bangkok and Sydney.

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