Vancouver-based HSBC Global Asset Management (Canada) Ltd. (HSBC GAM) announced plans to reduce management and trailer fees on certain series of HSBC World Selection Diversified Funds.
"In today's fee conscious environment, reducing the cost of investing is essential to helping clients achieve their financial objectives," says Marc Cevey, CEO of HSBC GAM. "These fee reductions reaffirm our commitment to delivering a robust line of mutual funds at competitive pricing."
Changes to new management fees and trailer fees will occur June 20 and September 22, respectively.
The entire list of affected funds is available on the firm's news release.