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HSBC merges multi-asset funds

HSBC Global Asset Management has merged its multi-asset International Selection funds with the bank’s retail consumer World Selection offering.

 
HSBC merges multi-asset funds

HSBC Global Asset Management has merged its multi-asset International Selection funds with the bank’s retail consumer World Selection offering.

The International Select Cautious Adventurous and Balanced funds, with a combined worth of around $300 million (£190 million), were merged at the end of June.

Julian York, former co-manager of the International Selection funds, said they had been merged as the funds were run in a similar way to the World Selection range.

‘I suppose the thinking was that they were managed in quite a similar way, in terms of the asset allocation, to various of our World Selection models,’ he said. ‘The World Selection range makes up our flagship portfolios.’

He added that advisers were contacted about the transfer of client assets before the merger.

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