HSBC brings multi-manager product to Asia

HSBC Asset Management has begun selling fund of funds products to HSBC bank retail investors in Asia. "The multi-manager industry is the fastest growing segment in the funds industry worldwide," says Andrew Leung, regional head for the firm's multi-manager unit in Hong Kong. Cerulli Associates has calculated that multi-manager assets under management have enjoyed a compound annual growth rate of 8% since 1999 despite a general industry downturn. The research group predicts at this ra…