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HSBC Global Asset Management Announces Pooled Fund Mergers


VANCOUVER, Dec. 13, 2012 /CNW/ - HSBC Global Asset Management (Canada) Limited announced today that it intends to merge several funds within the HSBC Pooled Fund range. It is proposed that the HSBC MultiAlpha Canadian Bond Pooled Fund will merge into the HSBC Canadian Bond Pooled Fund, and that the HSBC MultiAlpha Canadian Small Cap Equity Pooled Fund will merge into the HSBC Canadian Small Cap Equity Pooled Fund.

The funds that are proposed to merge have the same investment objectives, are substantially similar in their mandates, and share the same investment advisor or sub-advisor as the continuing funds. The mergers are intended to be implemented on a tax-deferred basis.

The anticipated effective date for the proposed mergers is on or about June 14, 2013, subject to the review and approval of the Independent Review Committee (IRC) of the HSBC Pooled Funds. If approved by the IRC, the mergers will qualify for applicable statutory exemptions, and therefore will not require unitholder and regulatory approval.

The proposed merger has potential to benefit unitholders by creating larger pools of assets. This may reduce the administrative and regulatory costs of operating each fund as a separate mutual fund, and may also enhance the portfolio management efficiency of these consolidated funds. This proposed merger of funds will have no impact on the other funds in the HSBC Mutual Fund or HSBC Pooled Fund families.

Units of the HSBC MultiAlpha Canadian Bond Pooled Fund and HSBC MultiAlpha Canadian Small Cap Equity Pooled Fund are only available to investors through discretionary accounts managed by HSBC Global Asset Management (Canada) Limited, or an affiliate of HSBC Global Asset Management (Canada) Limited. Up to the end of the last day before the effective date of the mergers, units of the HSBC MultiAlpha Canadian Bond Pooled Fund and HSBC MultiAlpha Canadian Small Cap Equity Pooled Fund will continue to be available for purchase for these accounts, and clients who hold units of the Funds in their accounts will be permitted to redeem their units by contacting their relationship manager at HSBC.

Notes to Editors:

1. HSBC Bank Canada, a subsidiary of HSBC Holdings plc, is the


     leading international bank in Canada. With around 6,900 offices in
     over 80 countries and territories and assets of US$2,721bn at 30
     September 2012, the HSBC Group is one of the world's largest

banking and financial services organizations. 2. HSBC Global Asset Management (Canada) Limited is a wholly owned


     subsidiary of, but separate entity from, HSBC Bank Canada and
     provides its services in all provinces of Canada except Prince
     Edward Island, and also provides its services in the Northwest
     Territories. HSBC Investment Funds (Canada) Inc. is a direct
     subsidiary of HSBC Global Asset Management (Canada) Limited and an
     indirect subsidiary of HSBC Bank Canada, and provides its services

in all provinces of Canada except Prince Edward Island. 3. HSBC Global Asset Management, the core investment business of the


     HSBC Group, manages assets totaling US$416bn and is a leader in
     emerging markets funds, with more than US$144bn of assets managed
     in global, regional and country specific emerging markets
     strategies across a range of asset classes. HSBC Global Asset
     Management has a worldwide client base of private clients,
     intermediaries; corporates and institutions invested in both
     segregated accounts and pooled funds. HSBC Global Asset Management
     fulfills its purpose of connecting these customers with investment
     opportunities through an international network of offices in
     approximately 30 countries, delivering global capabilities with

local market insight. (All figures as at 30 September 2012.) 4. HSBC Global Asset Management (Canada) Limited is the manager and


     primary investment advisor of the HSBC Pooled Funds, a family of
     public mutual funds.  HSBC Investment Funds (Canada) Inc. is the
     principal distributor of the HSBC Pooled Funds.  These mutual
     funds are sold only to investors as part of a discretionary
     investment management service.  As primary investment advisor,
     HSBC Global Asset Management (Canada) Limited may hire
     sub-advisors for the HSBC Pooled Funds, including sub-advisors
     that are affiliated to HSBC Global Asset Management (Canada)
     Limited.  HSBC Global Asset Management (Canada) Limited may hire
     or replace a sub-advisor at any time. Commissions, trailing
     commissions, management fees, investment management fees and
     expenses all may be associated with mutual fund investments. 
     Please read the prospectus before investing.  Mutual funds are not
     guaranteed or covered by the Canada Deposit Insurance Corporation,
     HSBC Bank Canada, or any other deposit insurer.  Their values
     change frequently and past performance may not be repeated.  The
     unit value of money market funds may not remain constant.

Media enquiries:   Ernest Yee (604) 641-2973  Sharon Wilks (416) 868-3878  

SOURCE: HSBC Global Asset Management (Canada) Limited

To view this news release in HTML formatting, please use the following URL: 
http://www.newswire.ca/en/releases/archive/December2012/13/c8917.html

CO: HSBC Bank Canada
ST: British Columbia
NI: FIN FIN 

-0- Dec/13/2012 21:00 GMT

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