HSBC Asset Management’s (AM) head of Asia fixed income Alfred Mui has left the firm, according to a memo seen by FSA.

Mui spent most of his three-decade investment career at HSBC AM, but departed last week to pursue other opportunities, a HSBC spokesperson confirmed with FSA.

Morningstar senior analyst Arvind Subramanian said: “Mui’s departure at HSBC will leave a void in the team given his deep experience within Asian credit markets and leaves the next generation of portfolio managers with large shoes to fill.”

Elizabeth Allen, HSBC AM’s head of Asia credit research, has assumed leadership of the firm’s fixed income team.

Subramanian added: “Across the Asian bond market, we have seen a growing number of veteran investors depart their firms after long tenures.”

“In 2023 and 2024, several exits followed the fallout from China’s property-market slowdown, as some managers struggled to protect against downside risks. More recently, departures have been driven by organizational reshuffling.

Morningstar’s manager research team has placed the HSBC Asian High Yield strategy under review, due to Mui’s extensive experience in the high-yield segment.