We use cookies to deliver the best possible web experience. By continuing to use this site, you agree that we may store and access cookies on your device. You can change your preferences at any time on your browser. For more detail, click here to view our cookie policy.

Fund Closures - HSBC Legacy Retention fund range

As a result of a review, we will be closing the HSBC Legacy Retention fund range and transferring all holdings into alternative funds on 7 March 2018.

Which funds are closing?

The funds that will be closing on 7 March 2018 and alternative funds selected are as follows:


Closing Fund Receiving Fund
European Equity EUR - BFHLR Continental European Equity EUR - SR
Global High Yield Bond USD - BFHLR US Currency Reserve USD - SR
World Selection 1 EUR - BFHLR Cautious Managed EUR - SR
World Selection 2 EUR - BFHLR Cautious Managed EUR - SR
World Selection 2 GBP - BFHLR Cautious Managed GBP - SR
World Selection 3 GBP - BFHLR Cautious Managed GBP - SR
World Selection 3 USD - BFHLR Cautious Managed USD - SR
World Selection 4 GBP - BFHLR Balanced Managed GBP - SR
World Selection 5 GBP - BFHLR Adventurous Managed GBP - SR

With immediate effect the above funds are closed to new subscriptions/switches in, however policyholders can still sell out of/switch out of the funds ahead of the closure date.


The action we will be taking

On 7 March 2018, we will transfer policyholders from the closing funds into an alternative from the fund range available to their product.


The alternative funds have a broadly similar investment objective and investment risks comparable to those of the closing funds, with the exception of Global High Yield Bond USD - BFHLR, which does not have an equivalent fund into which to switch; in this instance we have selected the US Currency Reserve USD - SR fund, a money market fund, as receiving fund.


Policyholders invested in the closing funds have been written to. Full details, including which default receiving fund we will transfer policy values into can be found in the sample letters opposite.


Alternative fund options

Should policyholders not wish to be switched into the receiving fund they can choose to switch into any of the funds available to their policy by completing and returning the relevant switch instruction form before 3pm UK time on 5 March 2018.


Details of the funds available can be found in the Fund Centre page for each product. A Switch instruction form can be obtained from the Downloads tab.


However, if policyholders are happy to accept the receiving fund then they do not need to do anything.