News Release

HSBC's Alternative Fund Services Launches New Web-Based Client Reporting Platform

28 February 2006

Alternative Fund Services (AFS), a division of HSBC Securities Services today launched Office, its market-leading Web-based client reporting platform for hedge fund and fund of fund managers.

Clients using Office will receive far greater transparency and access to their data. The platform gives users the ability to quickly find data, download or view on-line reports, transactions, debits-and-credits and daily P&L. Office acts as a central data portal, providing secure, streamlined, on-line access to fund accounting and valuations.

Drew Douglas, global head of business development for Alternative Fund Services, said: "Office delivers a first class, cutting-edge product to our clients who demand effective, time-saving IT solutions. Office provides hedge fund and fund of fund managers with reliable data transfer in line with the industry’s increasingly detailed reporting needs."

Office’s functionality also includes transaction reporting that enables fund managers to view the current status of their subscription, redemption and transfer instructions. Data and reports available through the on-line product can also be exported in a variety of formats including Excel and Adobe Acrobat for use in clients’ internal systems.

The Office platform was developed during the past year. It has been successfully piloted since December by AFS clients throughout North America, Europe and Asia.

 

HSBC Alternative Fund Services

HSBC Alternative Fund Services, part of HSBC Securities Services, provides fund administration for hedge funds, fund of funds, multi manager, private equity funds, emerging markets funds and real estate funds from 12 key financial locations globally. Fund administration services may be carried out by different HSBC Group legal entities according to local and regulatory requirements. All services may not be available in certain locations. As at 30 September 2005, it has more than US$196 billion in assets under administration and services 1,897 funds. For more information, visit www.afsfunds.com.

 

HSBC Securities Services

HSBC Securities Services is a division within Global Transaction Banking, part of the Corporate, Investment Banking and Markets business line of the HSBC Group.

HSBC Securities Services provides comprehensive global, regional and domestic custody services as well as cash management; foreign exchange; securities lending; corporate trusteeship; issue and paying agency services; alternative investment funds; and trustee and depositary services. HSBC Securities Services also provides a full range of investment administration and performance consulting services to institutional and corporate clients worldwide.

 

HSBC Holdings plc

HSBC Holdings plc is headquartered in the UK. The HSBC Group serves over 110 million customers

worldwide from more than 9,700 offices in 77 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$1,467 billion at 30 June 2005, HSBC is one of the world’s largest banking and financial services organisations. HSBC is marketed worldwide as ‘the world’s local bank’.

 

 

Media Contacts

• James Pieper
• jamespieper@hsbc.com
• HSBC
• +44 20 7991 0624