HSBC Openfunds launch on Zurich’s International Wealth Account

The HSBC Open Global Distribution and HSBC Open Global Return funds have linked to Zurich International Life’s International Wealth Account (IWA).

The move – effective immediately – means offshore intermediaries can now combine the innovative global multi-asset approach of the HSBC OpenFunds range with the tax advantages offered by an offshore life wrapper.

Dan Rudd, Head of External Distribution at HSBC Investments in the UK, said: “The Zurich International Wealth Account is one of the premier league platforms available to offshore intermediaries. We believe the fact that HSBC’s OpenFunds have met Zurich’s rigorous selection regime demonstrates the high calibre nature and strong demand for these funds.”

Martin Davis, Chief Executive Officer of Zurich International, added: “The move helps to strengthen and enhance the IWA proposition by offering clients access to HSBC Investments’ new innovative breed of multi asset, globally diverse funds.”

The funds are available on IWA with a sterling share class, and minimum investment is £40,000.

Launched in November 2006, the HSBC Open Global Return fund, managed by James Hughes, and HSBC Open Global Distribution fund, managed by Nick Pothier, are designed to achieve low risk absolute returns.

Both funds are designed to create durable foundations for any investment portfolio. The funds are diversified at both a geographic level and in terms of the assets they hold. In addition to holding mainstream assets such as equities and bonds they can include alternative assets such as private equity, commodities, hedge funds and property.”