HSBC Global Asset Management stokes tracker price war with fresh fee cuts

Halves fees on three trackers

HSBC Global Asset Management has halved ongoing charges on three of its most popular index trackers, as pressure on fees continues to build across the industry.

The group will reduce the ongoing charges figure on the HSBC American Index fund to 0.08%, the HSBC European Index fund to 0.1% and the HSBC FTSE All-Share Index fund to 0.07%. It marks the latest move in a price war which last month saw Fidelity Worldwide Investment reduce charges on its seven-strong range of trackers to as low as 0.06% for investors using the FundsNetwork platform. Andy Clark (pictured), chief executive officer at HSCB Global Asset Management, said: "We believe that passive investing is a growth area in the UK and we have always been at the forefront of its developm...