HSBC funds put on hold by advisers

Bestinvest has suspended 'buy' ratings on the HSBC European Growth, UK Growth and UK Growth & Income funds, following the departure of Russell, Rice and Dean. Jason Hollands, deputy managing director of Bestinvest, said: 'There is bound to be speculation about whether HSBC will seek to increase its 51% ownership of Framlington as a way out of the crisis. However, because of the voting structure at Framlington, this could only be achieved by consent, so we feel it is unlikely.' Hargreaves Lansdown, Chelsea Financial Services and Bates Investments have also put the funds on hold. Dariu...