HSBC's Openfunds tops £150m

The range includes the £79.2m HSBC Open Global Return fund and the £71.7m Open Global Distribution fund, both of which were launched in November 2006. Going against the grain of the broader industry, where sales are falling, assets under management have increased by 50pc in less than three months. The strong inflows into Openfunds are down their good performance being recognised by intermediaries. Within the balanced managed sector, the Cara MacGregor-managed Global Return fund is ranked sixth out of 141 funds over one year to August 4. The fund has returned 1.8pc, against a drop of -...