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HSBC looks at wrap links for OpenFunds

HSBC Investments is considering future distribution links with wrap platforms for its HSBC open global return and HSBC open global distribution funds.

The HSBC open global return fund aims to preserve capital as well as provide income and growth by diversifying across asset classes such as funds of hedge funds and private equity alongside the usual mix of equities and bonds.

The fund accesses alternative asset classes through holdings such as the Pantheon international participations fund of funds and Schroder alternative solutions commodity fund.

The HSBC open global distribution fund is similarly diversified but, as the priority is income, it focuses mainly on a range of sub-sectors of the fixed-income market alongside property and natural resources. It does not currently invest in asset classes such as private equity and funds of hedge funds

The two funds, launched in November 2006, have recently been made available through Standard Life’s pension platform. They have been offered through the company’s mutual fund, Isa and Pep platforms for some time but the expansion of the distribution link means IFAs can now access them through group personal pension and self-invested personal pension products.

HSBC Investments says the distribution link is important because the majority of its external business comes from life company platforms.

It says it will continue to make the OpenFunds range available to key distribution partners, which may include wraps in the future.

Standard Life says it chose to put the HSBC OpenFunds on its pension platform because, as globally diverse multi-asset funds, their inclusion widens choice for investors and their advisers.

HSBC Investments head of external distribution Dan Rudd says: “We are very excited that Standard Life has put the OpenFunds on to its pension platform, particularly in relation to the Sipp which is the biggest in the UK.

“The OpenFunds range is suitable for the majority of platforms. The wrap market is up and coming and we are in conversations about future links.”


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