HSBC OpenFunds launch on Skandia platforms

HSBC Investments (UK) has launched its new OpenFunds multi-asset fund-of-fund range on the Skandia Life & Pensions, Skandia Multi Fund, Multi ISA and Multi PEP platforms.

The move, effective from late February, means the HSBC Open Global Return and HSBC Open Global Distribution funds are now fully accessible to the IFA market via tax wrappers including life bonds, SIPPS, ISAs and PEPs.

Richard Vincent, Head of Strategic Fund Partnerships at Skandia said: “The inclusion of HSBC’s OpenFunds on the Skandia platforms signifies a new breed of innovative multi-asset fund which we can offer to our clients, thereby further strengthening and enhancing our proposition.” The OpenFunds are the first true multi-asset funds to be included on the Skandia platform.

Andy Clark, Managing Director, Wholesale, at HSBC Investments (UK) said: “Independent financial advisers are now putting the majority of their business via platforms and it is vital that these HSBC funds, which are central to our IFA offering, are easily accessible. The focus of our current distribution strategy is to ensure that the OpenFunds are available via the most important platforms and further agreements with other platforms are in the process of being finalised.”

Launched in November 2006, the HSBC Open Global Return Fund managed by James Hughes, and HSBC Open Global Distribution Fund managed by Nicholas Pothier, are multi-asset funds designed to achieve absolute returns by holding a globally diverse portfolio of mainstream and alternative investments.

Both HSBC Open Global Return and HSBC Open Global Distribution are designed to create durable foundations for any investment portfolio. Rather than being UK centric, the funds are globally diversified. In addition to holding mainstream assets such as equities and bonds, they can include alternative assets including private equity, commodities, hedge funds and property.