Monday, 28 May 2018

HSBC Global Asset Management has closed a fund!

Successfully, too! 'Er ... is that a good thing, boss?' Er ... well, they sent me an email about it, Voice, so they must be pleased. Look! -

HSBC Global Asset Management today[No!] announces the successful final close of its first dedicated HSBC Diversified Loan Fund, which combines both loan investing and direct lending within a fully managed, alternative credit solution. With close to US$800m raised since its launch, the fund has proved popular with investors looking for a diversified, core loan solutions.

Uh, no, not today. Last week sometime. I had a week off, dear reader(s), as you know. 'And now you're fully refreshed, boss.' Ha! You bet your ass I am, son! I'm ready for anything. 'Yippee!' Yeah. Big time.

The fund will primarily invest in floating rate, senior secured credit instruments such as syndicated loans, as well as senior secured and unitranch loans to middle market companies. The combination of loan investing and direct lending increases the opportunity set for the fund and enhances diversification - HSBC Global Asset Management anticipate c.300-400 underlying positions within the fund once it is fully invested. These investments can be made in North America, Europe and Asia.

Okay, okay. Not bad, I suppose. It's just a shame that Billy Benjamin ain't around to tell us a bit more about the fund. 'Can't you get him out of bed for a quote, boss?' Well, it's a bank holiday Monday, Voice. Everyone is goofing off. 'Except you.' Yes. I'm the hardest-working man in show business. 'In blogging, man.' In show business, man.

Anyway, uh ... let me try a mind connection ... [please bear with me, reader(s)] ... Billy! ... come on, Billy, mate ... oh, Billy, come on! ... 'Here he is, boss!' Great!

William Benjamin, Head of Alternative Investment Funds, HSBC Global Asset Management Limited, says: "The Fund has performed well in the short period since our first close. The first few months of 2018 saw increased market volatility and difficult performance for both equities and fixed rate asset classes, despite this, we've seen some strong and resilient performance demonstrated by our Syndicated Loan managers. We have also seen the first deployment from our Direct Lending managers, with both of them showing healthy investment pipelines."

Healthy investment pipelines? Nice one! Thanks, Billy! / Okay, okay. I'll just finish with this -

The information contained in this press release does not constitute an offer or solicitation for, or advice that you should enter into, the purchase or sale of any security or fund. Any views expressed are subject to change at any time.

You've been warned, reader(s)! Okay ... 'Are we really finished, boss, with this post, like?' Well, no, we've got a bit of time, Voice. We can talk about other stuff. Someone saw five dolphins in the harbour. 'Oh. You?' Ha! No, not me.

Anyway, Elon Musk? I think I'll go back to reading that Ashlee Vance biography on a loop. There's nothing else like it, man, and it keeps me motivated. 'What about the Grant Cardone audiobook of The 10X Rule, Mikey?' I can listen to that, too, Voice. No problem.

Brexit? Well, Brexit ain't even funny no more. 'Ha!' That's all I'm saying about Brexit.

Music? That spider exercise is doing wonders for my guitar playing. That's all I'm saying about the spider exercise.

So, laters! 'Bye!' No. 613. Later.