HSBC Global Asset Management has cut fees on six of its exchange traded funds (ETFs) as passive providers continue to compete on charges.
The lowest total expense ratio on offer from the firm is now the 0.05 per cent charged by the HSBC Euro Stoxx 50 Ucits ETF, down from a previous charge of 0.15 per cent.
The FTSE 100 ETF has seen the largest cut, from 0.35 per cent to 0.07 per cent
The asset manager’s MSCI World, MSCI Japan, MSCI Europe and MSCI Emerging Markets ETFs have also seen price cuts.
Andy Clark, chief executive officer at HSBC GAM, said: ““We understand that many clients use ETFs as ‘building blocks’ for their portfolios and when we launched our physically-replicated Ucits ETF range back in 2009, out aim was to ensure that we would always provide a cost-effective deal on a high quality range of the funds.
The changes follow the group’s decision last October to cut fees on three tracker funds: the American Index fund, European Index fund, and FTSE All-Share Index fund.
