Portfolio Update

RNS Number:2156H
HSBC Global Absolute Limited
10 January 2005


HSBC Global Absolute Limited

HSBC Private Bank Building, Rue du Pre, St Peter Port, Guernsey GY1 1LU


10 January, 2005


Regulatory News Service
London Stock Exchange
London
EC2N 1HP


Dear Sir,

HSBC Global Absolute Limited (the "Company") announces in line with UKLA Listing
requirements that as at 31st December 2004 the Company maintained the following
investments:

 1. Companies which constitute 5% or more of the Company's Gross Assets:
    Highbridge Capital Corporation                               5.45%
    Caxton Equity Growth (BVI) Limited                           5.13%

 2. The ten largest investments maintained by the Company:

    Highbridge Capital Corporation                               5.45%
    Caxton Equity Growth (BVI) Limited                           5.13%
    Gamut Investments Fund                                       4.61%
    Tewksbury Investment Fund Limited                            4.50%
    Raptor Global Fund Limited                                   4.48%
    Eminence Fund Limited                                        4.30%
    Sunova Offshore Limited                                      3.95%
    Lansdowne UK Equity Fund Limited                             3.93%
    CSFB Convertible and Quantitative Strategies Feeder Fund     3.79%
    AG Super Fund International Limited                          3.74%


END.


                      This information is provided by RNS
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