HSBC launches Onshore Investment Bond

| July 3, 2009 | 0 Comments
HSBC launches Onshore Investment Bond

HSBC this week launched the Onshore Investment Bond, aimed at clients seeking a professionally managed, whole market investment portfolio.

The bond offers Independent Financial Advisers (IFAs) a choice of investments in almost 2,000 funds - OIECs and Unit Trusts - from more than 100 fund managers.

Two versions of the bond are available - ‘Select’, for fee charging advisers, and ‘Flexible’ for commission-priced advisers.

Select has no initial or exit charges and no annual management fee, whilst Flexible has low reduction-in-yields.

With both versions, fund charges apply according to the underlying fund held by the investor.

Both Select and Flexible allow regular withdrawals, providing investors with a tax efficient way to supplement their income.

IFAs can manage the funds online, and can make applications by telephone.

“We believe we have developed a truly dynamic set of products that will enable advisers to offer customers a highly competitive bond with whole of market fund access,” said Tim Potten, head of life investments at HSBC Insurance.

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