canada life widens its scope with five hsbc funds and boosts its portfolio
Canada Life International (CLI) is adding five HSBC funds to its offshore platforms.
The five funds include a mix of fixed interest, emerging markets, US and an index portfolio. All the funds will be available in CLI's single premium Delta Account for a minimum investment of £6,000, its regular Offshore Savings Account for £100 per month or the CLI Flexible Life Plan for £15 per month.
The fixed interest product to be added is the CLI HSBC Gilt and Fixed Interest fund. This fund invests primarily in British government bonds, but also in other fixed interest securities.
There will be two HSBC emerging market portfolios included in the range. The CLI HSBC Bric Markets Equity fund and the CLI HSBC Global Emerging Markets Equity Freestyle fund.
The Bric product invests at least two thirds of its assets in Brazil, Russia, India and China. While the Global Emerging Markets fund is a growth-oriented fund, which invests in Latin America, Eastern Europe, Middle East, Africa and Asia. Investments will be mainly in large liquid stocks or depository receipts.
For investors who want to invest in the US, the CLI HSBC American Growth fund is to be included. This fund invests the majority of its assets in equity securities issued by large companies with market capitalisations of at least $10bn. The index fund to be added tracks the FTSE 250 index.
This is the first time CLI has added any HSBC funds to its offshore platforms. CLI said the company did not have a wide range of these types of portfolios and wanted to add products from a recognised investment manager.
Mario Ricciardi, head of investments and investment governance at CLI, said: "When you have more than 200 internal fund links, it is not easy to find a niche for new funds.
"We are always looking to add funds that are top of their sectors in terms of performance and run by fund managers with proven track records."
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