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2022 Business Update

Message from our Chief Executive Officer – Nicolas Moreau

I would like to update you on Asset Management’s contribution to the HSBC Group's Annual Results 2022, and the steps we are taking to ensure we continue to deliver for our clients.

How we’re performing

2022 was a challenging year for the asset management industry, but against a backdrop of turbulent markets, high inflation and rising interest rates, we have seen strong performance across our business.

Our AUM is now split as follows:

Total AUM (end of December 2022) USD 617bn

Notes: 1. Assets Under Management are presented on a Distributed (AUD) basis
2. Other in Asset Class refers to HASE
3. Wholesale in Client Type includes HASE
4. Other in Client Type represents Jintrust assets

2022 highlights 

In 2022, we continued to transform our business and we made solid progress across our key strategic initiatives. Across a 12-month period to the end of December 2022, 79% of our key funds outperformed their respective benchmarks on an asset weighted basis, a 14% increase versus 2021. Some of our key strategic highlights include:

  • Launch of Capital Solutions Group, a new unit within HSBC Alternatives that will raise funds and create bespoke offerings for institutional and wealth clients within HSBC Asset Management.
  • Appointment of a Listed Infrastructure Equity team from AMP Capital and launch of our first Global Listed Infrastructure Equity Fund.
  • Completed the acquisition of L&T Asset Management in India. HSBC Mutual Fund is now home to 450 colleagues and expands our footprint to 63 locations in 35 cities throughout India, giving us the scale, reach and capabilities to capture opportunities in the country’s growing asset management market.  
  • Announced a new coal policy to phase out coal-fired power and thermal coal mining from our listed holdings, in line with the HSBC Group’s ambition to be a ‘Net Zero’ asset manager by 2050.
  • Joined the Net Zero Asset Managers Initiative, committing to support the reduction to net zero by 2050 in line with global efforts to limit warming to 1.5°C, as well as supporting investing aligned with net zero emissions by 2050 or sooner.
  • Climate Asset Management secured more than USD650 million (as of December 2022) in commitments across their two natural capital strategies. 
  • Our partner Hang Seng Investment Management was appointed to manage the Tracker Fund of Hong Kong, the city’s largest exchange traded fund, with circa USD14 billion in assets. This makes the Hang Seng ETF platform the largest in Hong Kong. 

Looking ahead

While the external environment remains challenging and unprecedented, I’m confident that we are well positioned for a successful year. We remain committed to meeting our clients’ evolving needs and making progress on our strategy to continue to provide market leading investment solutions, aligned to the sustainability transition and growth in emerging markets and Asia.

Thank you for choosing HSBC Asset Management.

Nicolas Moreau

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