HSBC to maintain MM line-up despite little improvement

HSBC is maintaining the three groups running its multi-manager UK Growth and Income fund despite lit...

HSBC is maintaining the three groups running its multi-manager UK Growth and Income fund despite little improvement in performance over their tenure. The £876m fund, run by Tim Russell in the past, converted to a manager of managers approach in January 2007. It was recently named in Bestinvest's Spot the Dog report, underperforming its benchmark by more than 10% over the past three years. Head of UK wholesale marketing David Chellew said: "From our perspective, our analysts hold high conviction in all of the managers chosen and are happy with the way they are blended." Manager Nick ...