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Monday, 29 June 2009 12:00

HSBC has cut charges on its range of index-tracking investment funds, it has announced today.

The global asset management arm of the bank is slashing the annual management charge to 0.25 per cent for both new and existing investors.

It means investors will pay less for putting their money into the seven index tracking funds currently offered by HSBC.

They can gain access to the investment funds via their independent financial adviser or a fund supermarket.

Andy Clark, managing director of wholesale at HSBC Global Asset Management, said it had worked hard to ensure advisers had full access to the reduced charges and fund supermarket platforms would pass on the cuts to clients.

He added: "HSBC already boasts a major competitive advantage in this area due to our large and established quantitative capability and a 20-year track record in index tracking."

The cut in charges will take effect on September 1st.

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