HSBC has become the sole distributor in Australia of HSBC Global Asset Management Asia and China investment capabilities, taking over from previous distributor Challenger Financial Services Group (Challenger).

HSBC head of global investments Charles Genocchio said the distribution of these capabilities in the Australian market was critical to the expansion of HSBC's wealth management brand and business in this market.

"HSBC's wealth management and investment distribution strategy in Australia is based on importing the best of HSBC's international investment management capabilities to meet Australian demand- giving Australian investors access to HSBC's global investment expertise," he said.

As part of this strategy HSBC has established the HSBC Asia Select Equity Fund in Australia.

According to HSBC the fund aims to deliver strong relative performance as a result of in-depth fundamental research, long-term focus and strong investment discipline.

It is currently available to institutional investors and will be available to retail investors via platforms later this year.

An HSBC spokesperson said that HSBC had so far struck a deal with IOOF and was in discussion with a number of other platforms.

"What differentiates HSBC is our on-the-ground investment analyst coverage in the world's fastest-growing markets and our ability to use this insight in managing our client's portfolios," Genocchio said.

This announcement comes on the back of the September launch of the HSBC Global Emerging Equity Fund in Australia.

The fund gives local investors exposure to some of the world's fastest growing economies in Asia, Russia, Eastern Europe, South Africa and Latin America.