HSBC adds sterling share classes to EM funds

HSBC Global Asset Management has added sterling share classes to nine of its offshore emerging market funds, making them more easily accessible to retail investors.

HSBC will add income and accumulation shares, priced daily in sterling, to the fund range, which includes the $6.5bn HSBC GIF Indian Equity fund, run by Sanjiv Duggal, the $2.5bn Brazil Equity fund, run by Jose Cuervo, and the $1.8bn BRIC Equity fund. The move is part of a drive by the group to build its presence as a prominent EM fund provider for UK intermediaries. Andy Clark, the managing director, wholesale, says: "The new sterling share price will be preferable for domestic investors providing easier access and improved reporting. Although these funds have always been available t...