VANCOUVER, Aug. 8, 2019 /CNW/ - HSBC Global Asset Management (Canada) Limited announced today their decision to terminate the Advisor Series of all HSBC Mutual Funds. Effective immediately, the Advisor Series of all HSBC Mutual Funds are no longer available for purchase and will be terminated on or around 25 October 2019. All other series of the HSBC Mutual Funds will continue to be offered.
Any outstanding Advisor Series units will be automatically re-designated into units of the Investor Series of the same HSBC Mutual Fund, or into units of the Premium Series if investors meet the minimum account requirements, on or around 25 October 2019; investors may redeem their Advisor Series units or switch their units to another series of the same HSBC Mutual Fund until 23 October 2019.
Advance notice of the termination and conversion of units will be provided to investors in the Advisor Series.
For more information about HSBC Mutual Funds, please visit https://www.assetmanagement.hsbc.ca/
Notes to editors:
- HSBC Bank Canada, a subsidiary of HSBC Holdings plc, is the leading international bank in the country. We help companies and individuals across Canada to do business and manage their finances internationally through three global business lines: Commercial Banking, Global Banking and Markets, and Retail Banking and Wealth Management. The HSBC Group is one of the world's largest banking and financial services groups with assets of US$2,751bn at 30 June 2019. Linked by advanced technology, the HSBC Group serves customers worldwide across 66 countries and territories in Europe, Asia, North and Latin America, and the Middle East and North Africa.
For more information visit www.hsbc.ca or follow us on Twitter: @hsbc_ca or Facebook: @HSBCCanada.
- 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. It is also the manager of the HSBC Mutual Funds.
- HSBC Global Asset Management, the investment management business of the HSBC Group, invests on behalf of HSBC's worldwide customer base of retail and private clients, intermediaries, corporates and institutions through both separately managed accounts and pooled funds. HSBC Global Asset Management connects HSBC's clients with investment opportunities around the world through an international network of offices in around 26 countries, delivering global capabilities with local market insight. As at 30 June 2019, HSBC Global Asset Management managed assets totalling US$507.3bn on behalf of its clients.
For more information see www.global.assetmanagement.hsbc.com
HSBC Global Asset Management is the marketing name for the asset management businesses of HSBC Holdings plc.
- HSBC Investment Funds (Canada) Inc. is the principal distributor to the HSBC Mutual Funds. HSBC Mutual funds are also distributed through authorized dealers. Commissions, trailing commissions, management fees, and expenses all may be associated with mutual funds investments. Please read the prospectus and Fund Facts before investing. Mutual funds are not guaranteed or covered by the Canada Deposit Insurance Corporation, HSBC Bank Canada, or any other government deposit insurer or financial institution. The net asset values of all mutual funds, including the HSBC Mutual Funds, change frequently and past performance may not be repeated. For money market funds, there can be no assurances that such funds will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you.
SOURCE HSBC Bank Canada