HSBC Bank launches new discretionary management service

News - Banking

Written by Ray Clancy

Monday, 08 November 2010 09:44

HSBC Bank has launced its Premier Investment Management Service; a new discretionary investment management service designed to meet a variety of customer risk appetites and objectives.

The Premier Investment Management Service is designed to appeal to a wide audience through a suite of eight actively-managed portfolios. There are five risk adjusted, unconstrained models designed for customers with various risk appetites including Cautious, Conservative, Balanced, Dynamic and Adventurous. These models contain a wider range of asset classes, including private equity and commodities, helping to provide the customer with a less volatile investment journey. Also available are portfolios to suit the needs of Socially Responsible Investment* and Higher Income, as well as a Trustee model.

The new service adopts the same portfolio management philosophy behind HSBC's popular World Selection portfolios, which provide globally diversified multi-asset solutions throughout the market cycle. The portfolios are managed by a team of investment professionals led by Alec Letchfield, Chief Investment Officer, UK Wealth, at HSBC Global Asset Management.

David Wells, Head of Pensions, Investments and Savings at HSBC Bank, said:
"The Premier Investment Management Service has been designed following significant investment in understanding customer requirements. Highlighted as particularly important is a fair and transparent charging structure, so our new service has been designed specifically to meet this demand."
"Furthermore, HSBC is offering customers a service rather than just a product. In addition to providing segregated portfolios, customers have an annual review to ensure their portfolio continues to meet their investment needs and attitude to risk. In addition, a capital gains and ISA planning service is included."

This new service should help to further cement HSBC's position as a leading provider of wealth management solutions for its customers, Wells added. HSBC Bank currently manages more than £16bn in wealth management solutions for UK customers.

The Premier Investment Management Service is available for a minimum investment of £150,000. Charges are banded (a full schedule of charges is listed below). The service is available via HSBC's Premier Independent Financial Advisors and Commercial Independent Financial Advisers.

£150,000 - £250,000 1.5% +VAT

£250,001 - £500,000 1.1% + VAT

Over £500,000 0.8% + VAT

Custody Accounts 0.5%