HSBC trackers awarded S&P AAA ratings

Standard & Poor's Fund Services has awarded three HSBC Global Asset Management tracker funds ‘AAA' ratings.

The ratings agency has given the grade to HSBC's FTSE 250 Index, Japan Index and Pacific Index funds. It means HSBC's entire seven-strong suite of index tracking funds, run by a six-strong team headed by Jean-Francois Schmitt with Harvey Sidhu as lead manager, now have the AAA status. The HSBC FTSE 100 Index, HSBC FTSE All Share Index, HSBC European Index and HSBC American Index funds were all awarded the top rating by S&P last year. In September 2009, HSBC reduced its annual management fees across the seven funds to 0.25%. As a result, the TER on the HSBC FTSE 250 Index fund is now 0...