HSBC offers new discretionary service

The service will offer a choice of three strategies: Conservative, Moderate and Growth. Once the strategy is chosen with the relationship manager, day-to-day management is handled by the portfolio manager at HSBC Private Bank. The aim is to leverage HSBC's global reach with a cost-effective service from a trusted manager. Clients can use the strategy as a complete solution, or to blend this core service with satellite investments.  In a lower return environment, investors are conscious of costs, so most of the portfolio will be in index-matching strategies. However, where active manag...