Vancouver, British Columbia – (COMMERCIAL THREAD) – HSBC Global Asset Management (Canada) Limited, manager of HSBC’s mutual funds, today announced changes to its mutual funds. The changes include a new Series D and capping its Manager Series to new investors.
New D series units
HSBC Global Asset Management (Canada) Limited today announced the launch of a new Series D of HSBC Mutual Funds and Series DT of HSBC Monthly Income Fund and Monthly Dollar Income Fund American HSBC. Both series will be available from December 6, 2021 for order execution brokers only, and any other broker who does not determine suitability, in order to make them available to their clients. The DT Series of HSBC Monthly Income Fund and HSBC US Dollar Monthly Income Fund are suitable for investors looking for regular monthly distributions. Series D and Series DT pay no sales charge or trailing commission to dealers.
Manager Series closed to new investors
On December 6, 2021, the Manager Series of HSBC Mutual Funds, excluding HSBC Wealth Compass Funds, will be closed to new investors. Current unitholders of the Manager Series units will continue to be able to invest in the Manager Series of the same fund after its cap to new investors. The Manager Series is generally intended for investors enrolled in a broker-sponsored “fee-for-service” or “wrap” program subject to an annual asset-based fee.
Purchase orders from new investors for Manager Series units (excluding HSBC Wealth Compass Funds) will only be processed if received by 4:00 p.m. EDT on December 3, 2021.
Please consult your advisor and read the prospectus or fund facts before investing. Commissions, trailing commissions, management fees and expenses may be associated with investing in mutual funds. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
Notes to Editors:
- HSBC Bank Canada, a subsidiary of HSBC Holdings plc, is the country’s leading international bank. We help businesses and individuals across Canada do business and manage their finances internationally through three lines of business: Commercial Banking, Global Banking & Markets, and Personal & Wealth Banking. HSBC Holdings plc is headquartered in London, UK, and serves clients worldwide from offices in 64 countries and territories in Europe, Asia, North America, Latin America, Middle East and in North Africa. With $ 2,969 billion in assets as of September 30, 2021, 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
- HSBC Global Asset Management (Canada) Limited is a wholly owned subsidiary of, but a 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 principal investment advisor of the HSBC Mutual Funds. HSBC Investment Funds (Canada) Inc. is the principal distributor of HSBC Mutual Funds. HSBC mutual funds are also distributed through authorized dealers.
- 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 global client base consisting of retail and private clients, intermediaries, companies and institutions through segregated accounts and and mutual funds. HSBC Asset Management connects HSBC clients with investment opportunities around the world through an international network of offices in more than 20 locations, providing global capabilities with local market knowledge. As of June 30, 2021, HSBC Asset Management managed assets totaling US $ 625 billion on behalf of its clients.
HSBC Asset Management is the trade name for the asset management business of HSBC Holdings plc. For more information, see www.assetmanagement.hsbc.ca.