HSBC to Reduce Fees on Mutual Funds

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HSBC to Reduce Fees on Mutual Funds

Canada NewsWire

VANCOUVER, June 12, 2017 /CNW/ - HSBC Global Asset Management (Canada) Limited, manager of the HSBC Mutual Funds, will lower the management and trailer fees on certain series of the HSBC World Selection® Diversified Funds.

"In today's fee conscious environment, reducing the cost of investing is essential to helping clients achieve their financial objectives. These fee reductions reaffirm our commitment to delivering a robust line up of mutual funds at competitive pricing," said Marc Cevey, Chief Executive Officer at HSBC Global Asset Management (Canada) Limited.

The table below sets out the new management fees for the HSBC World Selection Diversified Funds. The fee changes take effect 20 June 2017.

Investor Series & Advisor Series

Current
Management
Fee

New
Management
Fee

HSBC World Selection Diversified Conservative Fund

1.50%

1.40%

HSBC World Selection Diversified Moderate Conservative Fund

1.50%

1.40%

HSBC World Selection Diversified Balanced Fund

1.75%

1.55%

HSBC World Selection Diversified Growth Fund

2.00%

1.75%

HSBC World Selection Diversified Aggressive Growth Fund

2.00%

1.75%

 

Additionally, on 22 September 2017, the trailer fees for the HSBC World Selection Diversified Funds will also be reduced as follows:

Investor Series & Advisor Series

Current
Trailer Fee

New
Trailer Fee

HSBC World Selection Diversified Conservative Fund

0.75%

0.70%

HSBC World Selection Diversified Moderate Conservative Fund

0.75%

0.70%

HSBC World Selection Diversified Balanced Fund

0.85%

0.75%

HSBC World Selection Diversified Growth Fund

1.00%

0.85%

HSBC World Selection Diversified Aggressive Growth Fund

1.00%

0.85%

 

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 global business lines: Commercial Banking, Global Banking and Markets, and Retail Banking and Wealth Management.  HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London.


The Group serves customers worldwide from around 4,000 offices in 70 countries and territories in Europe, Asia, North and Latin America, and the Middle East and North Africa. With assets of US$2,416bn at 31 March 2017, HSBC is one of the world's largest banking and financial services organizations. For more information visit www.hsbc.ca or follow us on Twitter @HSBC_CA or Facebook @HSBCCanada.

 

2.

HSBC Global Asset Management (Canada) Limited is a wholly-owned subsidiary of, but separate entity from, HSBC Bank Canada and is the Canadian division of HSBC Global Asset Management.


HSBC Global Asset Management, the core investment business of the HSBC Group, manages assets totaling US$428bn and is a leader in emerging markets funds, with more than US$116bn of assets managed in global, regional and country specific emerging markets strategies across a range of asset classes. HSBC Global Asset Management has a worldwide client base of private clients, intermediaries; corporates and institutions invested in both segregated accounts and pooled funds. HSBC Global Asset Management fulfills its purpose of connecting these customers with investment opportunities through an international network of offices in approximately 30 countries, delivering global capabilities with local market insight. All figures as at 31 March 2017. For more information see www.assetmanagement.hsbc.com

 

3.

Commissions, trailing commissions, management fees, investment management fees and expenses all may be associated with investments in the HSBC Mutual Funds. Please read the applicable account opening documentation and prospectus, Fund Facts and other disclosure documents before purchasing the HSBC Mutual Funds. The HSBC Mutual Funds are not guaranteed, their value may change frequently and past performance may not be repeated.

 

4.

®World Selection is a registered trade-mark of HSBC Bank Canada.

 

SOURCE HSBC Bank Canada

View original content: http://www.newswire.ca/en/releases/archive/June2017/12/c8147.html

Copyright CNW Group 2017

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