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HSBC launches new Asia fund

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HSBC has launched the HSBC Asia Select Equity Fund in Australia, after taking back control of the distribution of HSBC Global Asset Management Asia's products from Challenger.

The fund gives local investors exposure to economies in Asia, eastern Europe and Latin America and those of Russia and South Africa.

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

HSBC has struck a deal with IOOF and is in discussion with a number of other platforms to have the fund listed.

Standard & Poor's Fund Services has assigned a three-star rating to the fund.

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"The fund offers investors a well-diversified exposure to Asian equities," S&P analyst Nathan Bode said.