RETAIL FUNDS | Tony Chua, Hong Kong

HSBC launches investment solution for unit trusts

FundMax enables unlimited transactions and switching between funds for a single monthly fee.

HSBC has launched FundMax, Hong Kong's first fund investment solution that offers retail investors unlimited Unit Trust (UT) transactions and switching between over 300 funds for a monthly fee, a report by HSBC said.

"Many investors are concerned with the transaction costs involved in UT trading. By introducing a simple all-in-one fee structure, FundMax will address some of the concerns relating to transaction costs and will stimulate interest in UT investments."

The monthly account fee calculation is based on the average holding balance of open-end funds in the customer's FundMax account. The account fee rate per annum is between 1 percent and 1.75 percent.

FundMax also provides a full suite of comprehensive wealth management services and tools to help customers manage their investment portfolios effectively. HSBC Premier customers will receive a yearly investment portfolio review to help them achieve their financial goals and maximise their potential returns. Customers can also access HSBC's Fund Express, an online service that provides investors with comprehensive fund comparisons and analyses. Investors can also view the Funds of the Quarter summary which provides a breakdown of funds that have consistently performed well for various markets and asset classes.

HSBC has recently launched a free SMS service that alerts Premier customers to significant gains and losses in their portfolio. No registration is required and customers can amend their gain and loss percentage thresholds which trigger the alerts. This service covers UTs, Bonds of Deposits, Certificates of Deposits, Equity-Linked Investments and Structured Notes.

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