HSBC goes onshore in the UAE with 10 SCA-registered funds: HSBC has become the first global asset manager to launch a fully onshore fund platform in the UAE, registering 10 new investment funds with the Securities and Commodities Authority (SCA) and opening a dedicated Dubai branch for the platform, according to a statement (pdf).

Why it matters: The move marks a shift from the lender’s offshore, DIFC-only model to UAE-domiciled funds, which reduce tax and compliance friction compared with offshore vehicles. The new onshore funds span multiple asset classes, from US income to shariah multi-asset and India fixed income, to target both retail and institutional investors.

James Grist (LinkedIn) has been appointed general manager of the new entity, responsible for developing the platform and expanding regional investment capabilities

The move comes against the backdrop of a wider restructuring that has seen the bank scale back its operations in some countries to focus more on growth areas in regions like Asia and the Middle East.

It also comes after the Securities and Commodities Authority began encouraging domestic funds after prohibiting foreign-domiciled funds from being publicly offered to retail investors, encouraging asset managers to launch onshore or feeder funds instead.

Barjeel Geojit launches UAE feeder fund

SPEAKING OF — Non-banking financial services firm Barjeel Geojit launched a new feeder fund after receiving a mainland investment fund management license from the SCA, according to a press release.

The details: The Barjeel Geojit India Opportunities Fund (BGIOF), a UAE-regulated mainland umbrella fund, is a USD-dominated fund, with a minimum investment of USD 5k, designed to provide investors of all nationalities — except those in the US — with diversified exposure and managed access to 10 Indian equity sub-funds. Each subfund is invested in a single, UCITs-regulated master fund centered on Indian equities. Subscription to the fund is open from 14 January to 13 February.

REFRESHER- Feeder funds are a set of sub-funds that democratize retail investors’ access to hard-to-reach global investments by pooling capital into one master fund as a single institutional block. Recent launches include those from Pimco and DIFC-based Aditum Investment Management last July, as well as Franklin Templeton.

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