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HSBC looks at passive offering for Openfunds

HSBC Global Asset Management is looking to add a passive offering to its Openfunds multi-manager range.

HSBC Global Asset Management managing director of UK wholesale Andy Clark says a global passive fund is something the group is working towards as it believes the market share for passive funds is likely to increase from 10 to 20 per cent.

Speaking in this week’s Money Marketing, Clark says the fund would invest in a number of exchange-traded fund and index trackers and would look similar in structure to the firm’s global return fund, which launched in November 2006 and has exposure to around 12 asset classes.

He says: “We are big believers in the passive space. One of the stumbling blocks is whether we can get enough diversification for the fund, which is one of the hallmarks of the Openfunds range.”

Annual management charge would be 0.9-1 per cent.

T Bailey launches its passive fund of funds this week.


Kenmir: Significant change’

Ex-FSA chief Kenmir takes regulatory role at PwC

PricewaterhouseCoopers has appointed former FSA chief operating officer David Kenmir to its UK financial services regulatory practice. Kenmir will take up the role with immediate effect, with responsibility for helping to develop the range and depth of PwC’s regulatory offering. Kenmir was at the FSA since its inception in 1998, first as director of authorisation, […]

Mark Jones

LV=’s head of protection believes people need to be made aware of their need for protection but the industry also needs to shake up its attitude to make it easier for consumers to take out cover Interview by Gregor Watt


Guide: 10 required letters — what to send, to whom and when?

This guide from Johnson Fleming will take you through the required communication and also give ideas for additional actions that will ensure your auto-enrolment project is a success. The topics in this guide include: the letters you need to send out; what to send and when; the importance of employee engagement; and what to consider as additional communication.


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