HSBC Global Emerging Market Debt funds receive S&P AA Rating

The HSBC GIF GEM Bond and HSBC GIF GEM Local Debt funds have received AA Fund Management ratings from Standard & Poor's.

The upgrades, from A to AA, for these two strategies means that all three of HSBC's GEM bond strategies - Hard Currency, Local Currency and Total Return - are "AA" Fund Management rated by Standard & Poor's. HSBC GIF New World Income received an AA rating in 2008.

The funds are managed by a ten strong team in New York, led by Peter Marber, of Halbis, the active management unit within HSBC Global Asset Management. The team currently manages approximately US$3.5bn in GEM debt strategies.

Following these recent upgrades, HSBC Global Asset Management has more emerging market debt fund ratings from S&P than any other fund manager. HSBC Global Asset Management is also the only firm with more than one "AA" rating for a global emerging market debt fund.

A rating of AA is awarded if S&P considers a fund demonstrates very high standards of quality based on its investment process and management's consistency of performance as compared to funds with similar objectives. No GEM debt fund currently has an AAA rating.

Farley Thomas, Global Head of Wholesale at HSBC Global Asset Management, said these ratings underlined HSBC's breadth and depth in emerging market strategies, including GEM debt strategies managed by its New-York based investment team.

HSBC Global Asset Management is a leader in emerging markets asset management, with more than US$69bn assets under management in this asset class (as at end June 2009).