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HSBC launches “FlexInvest”

HSBC has launched FlexInvest for customers to invest in unit trusts with as little as HKD100 and enjoy low platform fees and zero transaction costs.

The service is now available to customers with a Personal Integrated Account, exclusively through the HSBC HONG KONG Mobile Banking App. Customers can either set up a monthly investment plan or make a one-off investment in 10 pre-selected funds, anytime, anywhere on their mobile.

Greg Hingston, Head of Retail Banking and Wealth Management, Hong Kong, HSBC, said ““Investment plays an instrumental role in financial planning. With FlexInvest, we’ve made it cheaper and easier for our customers to invest in their future, regardless of assets size or their levels of investment expertise. The new service offers a simple, flexible and affordable investment solution, demonstrating our continuous commitment to fulfilling customers’ needs and enhancing their digital banking experience.”

“FlexInvest is designed to encourage our increasingly digital-savvy customers to build their wealth. We’ve lowered the entry barrier by setting the minimum subscription at just HKD100, providing an avenue for customers to channel savings into investment through a regular monthly plan,” Hingston added.

It has a simple and transparent charging mechanism. It does not charge any subscription fees, redemption fees or switching fees, enabling customers to move flexibly in and out of funds, or top-up their portfolio whenever they prefer.

To reduce costs for small investors, the platform fee will be waived for customers with an average monthly holding balance below HONG KONGD10,000. The fee will rise to a flat rate of HKD28 a month for portfolios of between HKD10,000 and HKGD200,000, followed by a standard rate of 0.8 per cent per annum for portfolios exceeding HKD200,000, according to the press release.

There are initially 10 pre-selected funds, including seven funds managed by HSBC Global Asset Management, within the FlexInvest channel. Additional fund options will be included gradually to meet market demand. The funds, a mix of money market fund and index funds, aim to match the benchmark return of equity and fixed income markets and each offers distinct options in terms of geographic coverage and asset class to suit different customers’ needs.

Sami Abouzahr, Head of Customer Wealth, Retail Banking and Wealth Management, Hong Kong, HSBC, said “FlexInvest enables customers to access the most important markets and asset classes in a simple, flexible and affordable way. We have handpicked a number of index tracking funds that form the building blocks of a diversified portfolio and placed them at our customers’ fingertips.”

With a few simple steps on their mobile devices, FlexInvest encourages investors to economically build their investment portfolio through a monthly plan, a first but decisive step to shape their financial future. This service aligns with HSBC’s strategic focus to promote wealth planning as an important aspect of financial education. It also complements other investment options including stock trading, IPO, foreign exchange and time deposits currently available on HSBC HK Mobile Banking app.