HSBC Global Asset Management has launched three passive fixed income funds on its new ICAV platform in response to client demand for passive fixed income products.
Domiciled in Ireland, the HSBC Global Funds ICAV - US Government Bond Index fund, Global Government Bond Index fund and Global Corporate Bond Index fund will charge 0.07% and will be managed by the firm's passive fixed income head Sebastien Faucher, who joined from L&G in February.
They will track the Bloomberg Barclays US Treasury index, the FTSE World Government Bond index and the Bloomberg Barclays Global Corporate Bond index, respectively.
The strategies will utilise its active fixed income team to assist with credit screening, managing credit events, participation in new bond issues and execute trade.
The firm said the platform is designed to provide access to funds globally while leveraging its existing footprint in Ireland.
Xavier Baraton, global CIO, fixed income at HSBC GAM, said: "The launch of these three funds and our new ICAV platform form part of our strategic initiative to further strengthen HSBC GAM's proposition within passive investments.
"This initiative is in response to client demand for cost efficient fixed income passive solutions and reflects our commitment to offering clients an effective range of global products and solutions.
"We believe that our long heritage in managing passive investments, coupled with our global reach and substantial fixed income resources, gives us the basis to provide our clients with competitive products and the highest level of service."
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