HSBC Global Asset Management is introducing a sterling share class for nine of its emerging market funds in a bid to widen their accessibility to British investors.
The sterling share class will be priced daily and offered for both income and accumulation share classes.
The nine funds currently sit within HSBC’s Luxembourg-domiciled global investment fund’s range and includes the £4 billion GIF Indian Equity fund, managed by Sanjiv Duggal and the £1.5 billion GIF Brazil Equity fund, managed by Jose Cuervo and Natalia Kerkis.
Andy Clark, managing director wholesale at HSBC Global Asset Management, says: “Previously the lack of accessibility to subscribe, redeem and receive sterling quoted prices has often been cited as an obstacle for inclusion by many platforms, and with this removed, we expect these key HSBC funds to become far more widely accessible.” (article continues below)
HSBC Chinese Equity, Russia Equity, Bric Equity, Global Emerging Market Bond, Global Emerging Market Local Debt, Latin American Equity and Brazil Bond have also had a sterling share price introduced.
Earlier this year the IMA approved the inclusion of offshore funds into UK sectors.
Darius McDermott, the managing director of Chelsea Financial Services, says: “We can use offshore funds if they are available on platforms and if this makes these types of funds more accessible that can only be good news.”