We take your security very seriously. In order to protect you and our systems, we are making changes to all HSBC websites that means some of the oldest web browser versions will no longer be able to access these sites. Generally, the latest versions of a browser (like Edge, Chrome, Safari, etc.) and an operating system family (like Microsoft Windows, MacOS) have the most up-to-date security features.
If you are seeing this message, we have detected that you are using an older, unsupported browser.
Our multi-asset investment philosophy is based on the belief that:
Markets are inherently inefficient over the short to medium term
Asset prices exhibit excess volatility, relative to fundamentals, often leading to market mispricing
However, markets can be expected to revert to a measure of 'fundamental value' over the long term
We believe active asset allocation based on valuation can exploit this market over-reaction and mean reversion
Asset allocation is the key driver of portfolio return and must be dynamic
Following on from this philosophy, we aim to develop:
Robust valuation metrics to review the long term return potential on all available asset classes, on an ongoing basis
An investment strategy that is adjusted accordingly, shifting portfolio allocations toward asset classes with the best prospective risk-adjusted returns
Fulfilment that aims to capture the beta characteristics of the targeted asset classes on a cost efficient basis
To achieve this we:
Use asset valuation tools in a systematic way to project future asset class returns
Construct a dynamic asset allocation policy to exploit shifts in prospective returns across assets
Employ a robust optimisation process, enhanced by considered qualitative judgement, and a disciplined rebalancing of portfolios
Carefully manage portfolio risk as well as return potential
Choose the most efficient instrument for execution from a risk, return and cost perspective
The investment process for our core multi-asset solutions consists of three key stages:
Strategic Asset Allocation (SAA) – setting the portfolio's reference allocation
Tactical Asset Allocation (TAA) – risk aware active positions against the portfolio's SAA, reviewed frequently to ensure portfolio dynamism
Portfolio Construction – implementation of the portfolio's TAA
We leverage the insights of a wide range of global teams: macro economists, equity and fixed income investment teams, research specialists that focus on portfolio design and analytics, and product specialists in London, Paris, Toronto and Hong Kong
Our strategies benefit from years of experience in advising clients on investment guidelines, benchmarks and risk tolerance criteria, together with an extensive knowledge of local regulation and industry trends
The value of investments and any income from them can go down as well as up and investors may not get back the amount originally invested. Where overseas investments are held the rate of currency exchange may also cause the value of such investments to fluctuate.
Beginning of dialog window. It begins with a heading called "Terms and Conditions". Escape will cancel and close the window.
Terms and conditions
This website is intended exclusively toward professional investors in the meaning of Art. 4 para 3 letter a – g of the Swiss Financial Services Act (FinSA).
The offer and sale of collective investment schemes are subject to the respective national laws and other statutory regulations of the individual countries. We ask for your understanding that access to the following website is only permitted to professional investors within the meaning of Art. 4 para 3 letter a – g FinSA and who have their permanent residence in Switzerland and meet the additional requirements set out in the terms.
a) Financial Intermediaries as defined in the Banking Act of 8 November 1934 (BankA), the Financial Institutions Act of 15 June 2018 (FinIA) and the Collective Investment Schemes Act (CISA) b) Insurance Companies as defined in the Swiss Insurance Act (ISA) c) Foreign Financial Intermediaries and Insurance Companies subject to prudential supervision as mentioned in a) and b) d) Central Banks e) National and Supranational public entities with professional treasury operations f) Occupational Pension Schemes with professional treasury operations g) Occupational Pension Institutions providing professional treasury operations h) Companies with professional treasury operations
This website is not intended towards professional clients who are not institutional clients according to Art. 4 para 4 FinSA and who wish to declare to be treated as retail clients according to Art. 5 para 5 FinSA (opting in).
In case none of the above criteria applies to you or the institution you represent, you are not allowed to visit this website.
By clicking “Accept” I confirm that I have read and accept the important information linked above and that I am a professional investor according to Art. 4 para 3 letter a – g FinSA.