HSBC Investments' two OpenFunds offerings have only taken in £2m of external assets in the five mont...
HSBC Investments’ two OpenFunds offerings have only taken in £2m of external assets in the five months since launch. The Global Distribution and Global Return funds have taken just £1m each since launching on 9 November last year. According to the firm’s director of wholesale Andy Clark, HSBC has seeded each offering with a further £5m, to bring each vehicle to around £6m of assets in total. The lack of demand forced the firm to delay the launch of any further OpenFunds vehicles until at least the existing products’ first anniversary. Both Clark and former managing director Mike War...
To continue reading this article...
Join Investment Week for free
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes