HSBC Singapore has launched the AI Powered US Equity 5 Index (AiPEX5) and the bank's first index-linked Structured Note to utilise artificial intelligence (AI) as a method for equity investing.
HSBC said AiPEX5 turns Big Data into investment insight by using AI to evaluate stocks with the aim of generating positive long-term returns to build wealth for investors.
Launched in July 2020, the USD-denominated AiPEX5 Index Linked Structured Note was offered to Singapore accredited investors within HSBC's retail banking business, and is a further step in the Bank's strategy to develop market-leading, innovative solutions to cement its wealth proposition in the region. The offer has since been concluded.
AiPEX5 simulates a team of thousands of analysts and traders working around the clock to learn from millions of pieces of information and identify potential investment opportunities."
Gavin Powell, head of global markets and securities service, HSBC Singapore, said: "Investors need strategies that act in real-time to process the vast quantities of big data across the world; each new piece of data represents a potential insight, which could lead to better investment outcomes."
"AiPEX5 simulates a team of thousands of analysts and traders working around the clock to learn from millions of pieces of information and identify potential investment opportunities. The result is that we can offer clients solutions that not only keep up, but thrive in an increasingly complex world of data."
Ian Yim, head of wealth and international, HSBC Singapore, added: "In order for us to compete effectively in the high net worth space, we need to offer innovative investment products that respond efficiently to market volatilities and global uncertainties. Customers who have invested into the AiPEX5 Index Linked Notes like that it adopts a completely rules-based equity strategy, which eliminates human-biasness and is able to react to market conditions effectively."