VANCOUVER, British Columbia--(BUSINESS WIRE)--HSBC Global Asset Management (Canada) Limited (“AMCA”), manager of the HSBC Mutual Funds, today announced that investors have approved the changes to the investment objectives of the HSBC BRIC Equity Fund ("the Fund”) at a special meeting of unitholders held earlier today.
To reflect the changes in the investment objectives, on or about 2 December 2022, the Fund’s name, investment strategies, and benchmark will be changed as follows. The Fund’s risk rating will remain unchanged and the Fund will remain closed to new purchases.
Current fund name |
New fund name |
HSBC BRIC Equity Fund |
HSBC Emerging Markets Fund II |
Current investment objectives |
New investment objectives |
The fundamental investment objective of this Fund is to provide long-term capital growth by investing primarily in equities and equity-related securities of companies in selected emerging market countries. We may only change the Fund’s fundamental investment objective with the approval of a majority of the votes cast at a meeting of the investors of the Fund held to consider the change. |
The fundamental investment objective of this Fund is to provide long-term capital growth by investing primarily in equities of companies of all sizes in emerging markets around the world, either directly or indirectly. We may only change the Fund’s fundamental investment objective with the approval of a majority of the votes cast at a meeting of the investors of the Fund held to consider the change. |
Current investment strategy |
New investment strategy |
The Fund will invest primarily in equity securities issued by large companies that are domiciled in, based in, or carry out the larger part of their business activities in Brazil, Russia, India and/or China (including Hong Kong SAR) (“BRIC”). The portfolio may also include securities in appropriate smaller companies and equity-related securities including, but not limited to, warrants and participation notes.
The Fund’s investment advisor seeks to add value through stock selection by selecting quality companies that offer an attractive combination of profitability and valuation. The Fund’s investment advisor may tactically allocate between the BRIC countries and over- or under-allocate between countries as considered appropriate. |
The Fund will invest primarily in equity and equity-related securities of publicly traded companies whose main operations are located in the emerging markets and economies of the world. This includes securities of companies domiciled or listed on stock exchanges in developed countries, but which have a significant business or investment link with an emerging country. For this purpose, the Fund will generally only invest in companies domiciled or listed in developed markets where those companies are owned or controlled by emerging market entities, or where a significant portion of the earnings, production facilities, turnover, assets or investments of such companies are based in or derived from emerging market countries. The Fund may obtain this exposure by investing directly in such securities, or indirectly by investing in units of the HSBC Emerging Markets Fund.
When investing in equity securities directly, the Fund is managed using a “bottom-up” stock selection approach with a focus on company fundamentals. Many top-down factors including investment megatrends, politics, the fiscal picture, inflation and monetary policy are considered and may influence portfolio construction and risk control. |
Current benchmark |
New benchmark |
25% MSCI Brazil Net Index (C$); 25% MSCI Russia Net Index (C$); 25% MSCI India Net Index (C$); 25% MSCI China Net Index (C$) |
MSCI Emerging Markets Net Index (C$) |
Please consult your Advisor and read the Simplified Prospectus or Fund Facts document before investing. There may be commissions, trailing commissions, management fees and expenses associated with mutual fund investments. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
Notes to editors:
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HSBC Bank Canada, a subsidiary of HSBC Holdings plc ('HSBC Group'), is the leading international bank in the country. We help companies and individuals across Canada to do business and manage their finances here and internationally through four businesses: Commercial Banking, Global Banking, Markets and Securities Services, and Wealth and Personal Banking.
For more information, visit www.hsbc.ca or follow us on Twitter: @HSBC_CA or Facebook: @HSBCCanada
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HSBC Holdings plc, the parent company of HSBC Bank Canada, is headquartered in London. HSBC serves customers worldwide from offices in 63 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$2,992bn as at 30 September 2022, HSBC is one of the world’s largest banking and financial services organizations.
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HSBC Global Asset Management (Canada) Limited (‘AMCA’) is a wholly-owned subsidiary of, but separate entity from, HSBC Bank Canada and is the Canadian business of HSBC Asset Management. HSBC Global Asset Management (Canada) Limited is the manager and primary investment advisor for the HSBC Mutual Funds and the HSBC Pooled Funds (collectively, the “HSBC Funds”). HSBC Investment Funds (Canada) Inc. is the principal distributor of the HSBC Mutual Funds. HSBC Mutual Funds are also distributed through authorized dealers.
The HSBC Pooled Funds are sold only to investors as part of a discretionary investment management service, which requires an investor to enter into an investment management agreement with AMCA or HIFC, or another approved advisor or dealer. Commissions, trailing commissions, management fees, investment management fees and expenses all may be associated with mutual fund investments. Please read the prospectus, Fund Facts, applicable account opening documentation and any other disclosures before investing. HSBC Funds are not guaranteed or covered by the Canada Deposit Insurance Corporation, HSBC Bank Canada, or any other government deposit insurer or financial institution, their values change frequently and past performance may not be repeated. For money market funds, there can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you.
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HSBC Asset Management, the global asset management business of the parent company, HSBC Holdings plc, which includes HSBC Global Asset Management (Canada) Limited, invests on behalf of HSBC’s worldwide customer base of retail and private clients, intermediaries, corporates and institutions through both segregated accounts and pooled and mutual funds. HSBC Asset Management connects HSBC’s clients with investment opportunities around the world through an international network of offices in more than 20 locations, delivering global capabilities with local market insight. As at 30 September 2022, HSBC Asset Management managed assets totalling US$574bn on behalf of its clients.
HSBC Asset Management is the marketing name for the asset management businesses of HSBC Holdings plc. For more information, see assetmanagement.hsbc.ca
