HSBC private banking enters the metaverse
The UK bank’s new fund aims to deliver metaverse-themed investment opportunities to wealthy clients in Hong Kong and Singapore.
HSBC’s Metaverse Discretionary Strategy is the first of its kind, but it won’t be the last.
Launched on April 6, it is a fund designed to deliver metaverse-themed investment opportunities to the bank’s wealthy Asian clients.
The idea is the brainchild of Lina Lim, HSBC’s Asia-Pacific head of discretionary and funds, investments and wealth solutions.
Lim set out to create a new product offering that would give HSBC a lead in this space and to grab the attention of rich investors across the region.
“We saw a huge gap in terms of the product offering,” she tells Euromoney. “It’s not rocket science.”
[The] next iteration of internet is a long-term structural theme that should have a place in every portfolio
Most tech investors, she noted, tended to limit themselves to buying shares in the usual suspects – global giants such as Amazon and Alphabet. “We are not looking only at that – we are also looking at secondary companies across the world, who are also benefiting from and part of the ecosystem.”