FALKLAND ISLANDS GOVERNMENT

PRESS STATEMENT

4 February 2025

HSBC Private Banking UK takes over management of Falkland Islands Government portfolio

The management of the Falkland Islands Government’s (FIG) investment fund portfolio of £400m has been awarded to HSBC Private Banking UK (HSBC) after a competitive process.

 

FIG reviews its investment management on a periodic basis and last year decided to undertake a formal tender.

 

The requirements sought for the new fund manager were:

 

  • Strong capability in all major asset classes, with a notion that some of global equity

exposure and gilts can be managed passively;

  • High quality client service and “hands on” help with cash flow management and

financial planning;

  • Ability to provide additional services, such as cash management and a lending line;
  • Competitive fees.

 

A tender exercise was performed with three fund managers chosen to present to FIG.  From the presentations, HSBC stood out and were awarded the contract.  

 

The transfer of funds has now been completed seamlessly and HSBC are providing FIG with a first-class client team.

 

FIG Financial Secretary Pat Clunie said: “During the assessment process, HSBC were able to demonstrate a high degree of professionalism and meet FIG’s specific requirements and understand its unique operating environment. HSBC are able to provide strong portfolio management capabilities, cash management, financial planning services and have lending capabilities. The services provided to FIG will ensure a high quality of service and will be cost effective. The sound management of the significant funds that FIG holds is of the highest importance, and I am confident that HSBC will be able to deliver this. I look forward to the relationship between FIG and HSBC developing”.

 

Sophie Ward, Head of Charities & Education, HSBC Private Banking UK, said: “We are delighted to be working with FIG to support their investment requirements across their balance sheet. This is a great example of how we can provide our clients with a full range of HSBC’s global capabilities, from institutional investment management in public and private markets to cashflow management and lending. Our relationship-led model means we can service all their needs with one main point of contact. We are very much looking forward to working with FIG and building a strong relationship.”

 

***
ENDS