The centres will be in the Asian city-state’s central business district and the east and west region of Singapore, HSBC said.

HSBC said it has doubled its technology investments in Singapore over the past five years, while planning to increase the number of staff in client-facing roles by more than a third by 2028.

Wong Kee Joo (pictured), CEO of HSBC Singapore said: “Since HSBC established its presence here in 1877, our purpose has always been to connect our customers to opportunities. Our substantial investments have set the stage for future growth, enabling us to better support the needs of our clients.

“As Singapore grows as an international financial centre and international wealth hub, HSBC is uniquely placed to meet the wealth and international banking needs of our clients through the scale and breadth of our network and capabilities.”

Ashmita Acharya, head of wealth and personal banking at HSBC Singapore said, “We want to be the wealth manager of choice for affluent Singaporeans and international professionals.

“We’ve been focused on elevating the customer experience across our channels and building a differentiated proposition that supports our client’s wealth, health and international banking needs – from growing and protecting their wealth, to planning for their family, their children’s international education, and the next generation.”

Launched in 2011, the fund is managed by Kevin Murphy and Andrew Evans and invests in a diversified portfolio of UK companies.

Joseph Hill, HL senior investment analyst, said that the fund could diversify an income-focused portfolio or offer value exposure to a more general portfolio.

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“We think Murphy and Evans have the experience and support to deliver good long-term returns to patient investors, although there are no guarantees,” he said. “We also have a positive view of the collegiate approach, capability and experience of the 12-strong value team the managers form a part of.”

Murphy has been at Schroders since 2000, joining as an equity analyst before managing money since 2006. He has run the Schroder Income fund since launch.

Meanwhile, Evans joined the firm in 2015 as a member of the global value team. He became a named manager on the strategy in November 2022.

According to FE Fundinfo, the strategy has returned 33.5% over three years against the IA UK Equity Income sector average of 20.2%.

This article was written for our sister title Portfolio Adviser