HSBC halves fees on tracker funds
HSBC Global Asset Management has reduced fees on three of its trackers, more than halving OCFs on its American, European and FTSE All-Share funds.
With this reduction, the ongoing charges (OCFs) for the HSBC American Index Fund will stand at 0.08%, the HSBC European Index Fund at 0.10% and the HSBC FTSE All-Share Index Fund at 0.07%.
Andy Clark, CEO, HSBC Global Asset Management (UK), commented:“We believe that passive investing is a growth area in the UK and we have always been at the forefront of its development. We have reduced fees on three of our core tracker funds that give investors exposure to the world’s key developed markets – the US, Europe and the UK.
“It’s also not just about the cost. We ensure that the client is at the heart of our business. For instance, this price reduction isn’t just for new customers, but also applies to people who are already invested.
“Passive investing is a big and expanding market in the UK and as a fund provider we are committed to playing a part in this expansion.”