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HSBC adds sterling share classes for emerging market funds

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 UK 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 £4bn GIF Indian equity fund, managed by Sanjiv Duggal and the £1.5bn GIF Brazil equity fund, managed by Jose Cuervo and Natalia Kerkis.

HSBC Global Asset Management managing director wholesale Andy Clark 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.”

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.

Chelsea Financial Services managing director Darius McDermott 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.”

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