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HSBC GAM launches passive fixed income fund

George Geddes

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HSBC Global Asset Management has launched a passive fixed income fund offering exposure to emerging market government debt.

The HSBC Global Emerging Market Government Bond Index fund replicates the performance of the JP Morgan EMBI Global Diversified Total Return index, denominated in US dollars.

The passive fund is domiciled in Ireland under HSBC’s ICAV platform and comes with an ongoing charge between 0.175% and 0.60% depending on the share class.

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HSBC GAM’s passive fixed income team manages the fund which is led by head of passive fixed income Sebastien Faucher.

HSBC looks to minimise transaction costs for the fund and incorporate the firm’s expertise in credit screening, managing credit events, participation in new issues and the execution provided by dedication fixed income traders.

Sebastien Faucher commented: "We have seen strong asset allocator demand for the passive fixed income funds on our ICAV platform, given the current market trend for more affordable building blocks, one of them being global emerging market government debt."

HSBC recently appointed Nicolas Moreau as CEO in August, the former chief executive from DWS.

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