HSBC Global Asset Management has announced the launch of its World Selection investment product in Hong Kong.

Pioneering in the UK in early 2009, World Selection is a multi-asset investment product that has a multi-manager approach. The product is not expected to see a surge in interest during its initial run, especially as Asian investors are generally used to highly transparent investment initiatives. The manager of managers approach is a relatively new concept that could challenge this sense of control.

The bank is optimistic, however, as the recent financial crisis has driven even the most conservative investors to take alternative money-generation strategies to stay afloat.

"World Selection has been developed as a core investment for investors with different risk appetites to smooth the ups and downs of recovering market conditions," said Bruno Lee, the Asia-Pacific head of wealth management at HSBC Hong Kong, in a statement.

There are five sub-funds under the World Selection umbrella, each hosting a varied range of investments, risk profiles, and objectives. A majority of the funds will be focused on fixed income and equity, although they may also be exposed to the likes of hedge funds, commodities, real estate, private equity, and absolute return.

World Selection Asia-Pacific will be headed by Simona Paravani.