HSBC Global Asset Management (Canada) Limited Announces Pooled Fund Closure

VANCOUVER, Dec. 15, 2011 /CNW/ - HSBC Global Asset Management (Canada) Limited, manager of the HSBC Pooled Funds, will close and wind up the HSBC International Bond Pooled Fund on or around 15 December 2011.

Effective immediately, new investments in the HSBC International Bond Pooled Fund will no longer be accepted. The decision to close the fund was based on the small fund size and the costs associated with maintaining such small funds. This Fund was part of the family of HSBC Pooled Funds, a family of mutual funds available primarily to Canadian investors in discretionary management services offered by HSBC Global Asset Management (Canada) Limited.

The closure of the fund will have no impact on the other funds in the HSBC Mutual Fund or HSBC Pooled Fund families. As at 30 November 2011, the HSBC International Bond Pooled Fund represented less than 1% of all HSBC Global Asset Management (Canada) Limited mutual fund and pooled fund assets.

HSBC Global Asset Management (Canada) Limited is a wholly-owned subsidiary of, but separate entity from, HSBC Bank Canada and is the Canadian business of HSBC Global Asset Management.

Notes to Editors:

1. HSBC Bank Canada, a subsidiary of HSBC Holdings plc, is the leading international bank in Canada. With around 7,500 offices in over 80 countries and territories and assets of US$2,691 billion at 30 June 2011, the HSBC Group is one of the world's largest banking and financial services organizations.
   
   
2. HSBC Global Asset Management (Canada) Limited ("AMCA") is the manager and primary investment advisor of the HSBC Pooled Funds, a family of public mutual funds.  HSBC Investment Funds (Canada) Inc. is the principal distributor of the HSBC Pooled Funds. These mutual funds are sold only to investors as part of a discretionary investment management service, which requires an investor to enter into an investment management agreement with AMCA.  Commissions, trailing commissions, management fees, investment management fees and expenses all may be associated with mutual fund investments.  Please read the prospectus before investing.  Mutual funds are not guaranteed or covered by the Canada Deposit Insurance Corporation, HSBC Bank Canada, or any other deposit insurer.  Their values change frequently and past performance may not be repeated.  The unit value of money market funds may not remain constant.
   
   
3. Globally, HSBC Global Asset Management, the core investment business of the HSBC Group, has approximately US$396.7 billion under management at 30 September 2011. With investment teams based in 20 locations throughout Europe, Asia-Pacific and the Americas, HSBC Global Asset Management is able to deliver global capabilities with the benefit of local market perspectives.

 

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