HSBC Global Asset Management (Gam) has launched two tracker funds providing access to sterling index-linked bonds and UK corporate bonds.
The HSBC Sterling Corporate Bond Index fund will track the Markit iBoxx GBP Non-Gilts index, while the HSBC Index-Linked Gilt Index fund follows the FTSE Actuaries UK Index-Linked Gilts index.
The funds, managed by the asset manager's global bond team, seek to give investors low-cost access to an area of fixed income where performance is not solely reliant on the direction of interest rates.
Each will be available through platforms and has an estimated ongoing charges figure of 0.17 per cent.
HSBC Gam’s UK chief executive officer Andy Clark said: “These two latest additions to HSBC’s suite of index-based funds can be used as an important building block for investment portfolios. The new funds are designed to offer cost-effective access to an area of fixed income where direction of interest rates is not the only driver of performance."