HSBC targets to raise $100m

HSBC Global Asset Management hopes to raise $100 million (Dh367m) for a new emerging markets fund that will use hedge fund tactics to try and make money in all markets. The HSBC GIF GEM Equity Alpha fund will use a Ucits III structure – allowing it to use advanced financial techniques and still be sold to investors across Europe – and will target returns of 10-15 per cent a year, the firm said in a statement.