HSBC merges multi-asset fund range

HSBC Global Asset Management has combined the funds within its multi-asset International Selection range with the bank's retail consumer World Selection offering.

The International Select Cautious, Adventurous and Balanced funds, which are worth a collective $300m (£190m), were merged into the Luxembourg-domiciled World Selection fund range at the end of June. The $1.5bn World Selection range entails three offshore products, including the Cautious, Balanced and Dynamic funds and are sold via the bank. According to the firm, the decision to merge the ranges was motivated by the similar styles of management on the funds. "The merger of the three HSBC International Select funds into the HSBC World Selection range provides the benefits which com...