HSBC global emerging market debt funds receive S&P
AA rating

Published: 18 August 2009

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 mean 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 USD3.5bn 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 USD69bn assets under management in this asset class (as at end June 2009).

Further information:
Jenne Mannion + 44 (0) 20 7024 0444
or at e-mail Jenne.mannion@hsbc.com

Charlotte McMullen, M:Communications
+44 (0)20 7153 1549 or at e-mail mcmullen@MComGroup.com

Notes to editors:

Photos available upon request

The sub-funds referred to above are sub-funds of HSBC Global Investment Funds, a Luxembourg domiciled SICAV. UK based investors in HSBC Global Investment Funds are advised that they may not be afforded some of the protections conveyed by the provisions of the Financial Services and Markets Act 2000. The securities representing interests in HSBC Global Investment Funds have not been and will not be registered under the US Securities Act of 1933 and will not be offered for sale or sold in the United States of America, its territories or possessions and all areas subject to its jurisdiction, or to United States Persons, except in a transaction which does not violate the Securities Law of the United States of America. All applications are made on the basis of the current HSBC Global Investment Funds Prospectus, simplified prospectus and most recent annual and semi-annual reports, which can be obtained upon request free of charge from HSBC Global Asset Management (UK) Limited, 8 Canada Square, Canary Wharf, London, E14 5HQ. UK, or the local distributors. Investors and potential investors should read and note the risk warnings in the prospectus.

HSBC Global Asset Management
HSBC Global Asset Management comprises four specialist investment businesses: Halbis, Sinopia, Multimanager and Liquidity. HSBC Global Asset Management acts as the global representative of its specialist investment businesses and manages assets totalling USD390.1 billion as at the end of June 2009. As one of the world's leading emerging markets asset management businesses, through its network of offices in over 20 countries around the world, HSBC Global Asset Management has strong relationships with corporates, institutions and financial intermediaries of all sizes and types. HSBC Global Asset Management is part of HSBC Global Banking and Markets, a division of HSBC Holdings plc. For more information see www.assetmanagement.hsbc.com

Halbis
Halbis is an active investment manager focused on delivering sustainable value-added performance in selected areas of the global market. It specialises only in areas where it is or will be highly competitive, namely European equities, value-added fixed income, Asian and Emerging Markets equities, and some alternative strategies. Halbis manages assets of USD140.36 billion (as at end June 2009). For further information please visit: www.halbis.com

HSBC Holdings plc
HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 8,500 offices in 86 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of USD2,422 billion as at 30 June 2009, HSBC is one of the world's largest banking and financial services organisations. HSBC is marketed worldwide as 'the world's local bank'.

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