Banking Fintech News

HSBC Asset Management Announces Changes to Its Mutual Fund Series

HSBC Asset Management Announces Changes to Its Mutual Fund Series

HSBC Global Asset Management (Canada) Limited, manager of the HSBC Mutual Funds, announced changes to its mutual funds. The changes include a new D series and capping of its Manager series to new investors.

New D series units

HSBC Global Asset Management (Canada) Limited has today announced the launch of a new D series of the HSBC Mutual Funds and DT series of the HSBC Monthly Income Fund and the HSBC U.S. Dollar Monthly Income Fund. Both series will be available starting December 6, 2021 to Order Execution Only dealers, and any other dealers that do not make a suitability determination, to make available to their clients. The DT series of the HSBC Monthly Income Fund and the HSBC U.S. Dollar Monthly Income Fund are for investors who are seeking consistent monthly distributions. The D and DT series do not pay any sales charges or trailing commissions to dealers.

Read More: QuickFee Introduces Connect, A New Payment Integration with Wolters Kluwer Practice Management Software

Manager series closed to new investors

On December 6, 2021, the Manager series of the HSBC Mutual Funds, excluding the HSBC Wealth Compass Funds, will be closed to new investors. Current unitholders of Manager series units will continue to be able to make investments into the Manager series of the same fund after it is capped to new investors. The Manager series is generally for investors enrolled in a dealer-sponsored “fee-for-service” or “wrap” program subject to an annual asset-based fee.

Purchase orders by new investors for Manager series units (excluding the HSBC Wealth Compass Funds) will only be processed if received before 4:00 pm EDT on December 3, 2021.

Please consult your advisor and read the prospectus or Fund Facts document before investing. There may be commissions, trailing commissions, management fees and expenses associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.

Read More: Flutterwave Enables New Europe-Africa Payment Corridors via Stellar

Notes to editors:

  1. HSBC Bank Canada, a subsidiary of HSBC Holdings plc, is the leading international bank in the country. We help companies and individuals across Canada to do business and manage their finances internationally through three business lines: Commercial Banking, Global Banking and Markets, and Wealth and Personal Banking. HSBC Holdings plc is headquartered in London, UK, and serves customers worldwide from offices in 64 countries and territories in Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets US$2,969bn at 30 September 2021, HSBC is one of the world’s largest banking and financial services organizations.
  2. HSBC Global Asset Management (Canada) Limited is a wholly-owned subsidiary of, but separate entity from, HSBC Bank Canada and is the Canadian business of HSBC Asset Management. HSBC Global Asset Management (Canada) Limited is the manager and primary investment advisor for the HSBC Mutual Funds. HSBC Investment Funds (Canada) Inc. is the principal distributor of the HSBC Mutual Funds. HSBC Mutual Funds are also distributed through authorized dealers.
  3. HSBC Asset Management, the global asset management business of the parent company, HSBC Holdings plc, which includes HSBC Global Asset Management (Canada) Limited, invests on behalf of HSBC’s worldwide customer base of retail and private clients, intermediaries, corporates and institutions through both segregated accounts and pooled and mutual funds. HSBC Asset Management connects HSBC’s clients with investment opportunities around the world through an international network of offices in more than 20 locations, delivering global capabilities with local market insight. As at 30 June 2021, HSBC Asset Management managed assets totalling US$625bn on behalf of its clients.

Read More: Everything Blockchain, Inc. Announces Agreement to Develop FinTech Platform Utilizing Its Patented QueryChain Blockchain

[To share your insights with us, please write to sghosh@martechseries.com]

Related posts

FinTech Startup EvoShare Adds Frank Mazza as Chief Marketing Officer

Fintech News Desk

Galaxy is About to Launch the MetaFi Token GDI

Fintech News Desk

Apex Fintech Solutions Data Underscores Mounting Recession Fears and the Rise of the Crypto Millennial in Second Quarter 2022

Fintech News Desk
1