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FundMax

FundMax uses a pricing model with one single account fee for unlimited transactions which allows customers to timely rebalance their portfolio

Important Risk Warning 

  • Unit Trusts are investment products and some may involve derivatives. The investment decision is yours but you should not invest in the Unit Trusts unless the intermediary who sells it to you has explained to you that the product is suitable for you having regard to your financial situation, investment experience and investment objectives
  • Unit Trusts are NOT equivalent to time deposits
  • In the worst case scenario, the value of the unit trusts may be worth substantially less than the original amount you have invested

A Wealth Management Solution

HSBC's FundMax will help you build and manage your financial health with a single monthly fee. This is ideal for those who: 

  • want to accumulate wealth and are looking for growth opportunities
  • are concerned with transaction costs when investing in unit trusts
  • appreciate that fund portfolios only grow if they are positioned across the right asset types at the right time

Timely rebalancing of your portfolio can help to enhance your potential returns. However, the fee involved in the process can be a deterrent. We have now made the rebalancing of your portfolio much easier with a low single account fee1for unlimited transactions and access to a full suite of wealth management services and tools. You can also diversify your portfolio with an asset allocation strategy via access to a wide range of funds.

1The account fee is calculated based on the average holding balance of open-end funds (excluding the No Subscription Fee Series and CapitALL funds), Terms and conditions apply, please refer to the Terms and Conditions section for more details. All other fees applicable to the relevant fund subscription will still apply.

Unit Trust Offers

How to start investing in FundMax with HSBC

Manage your Unit Trust portfolio through multiple channels

  • HSBC Personal Internet Banking: Buy, sell and switch transactions, and unit trust investment performance monitoring all at the touch of a button
  • Phone banking: Sell transactions only at your convenience
  • Branch Network: Speak to one of HSBC's investment professionals, and let them help you to capture the latest investment opportunities according to your individual needs

Full suite of comprehensive investment tools

Strategic Financial Planning

Whether you already have a financial goal in mind or are looking to set up a new goal, Strategic Financial Planning will help you better understand your financial needs and achieve your goals.

How much does it cost?

All-in-one monthly fee, as low as 1%p.a.

One account fee based on the monthly average market value of the fund holdings3 in your FundMax account, without having to pay any upfront subscription fees or switching charges.

Table of Fees
FundMax Account average holding balance
 HSBC Premier account fee rate (p.a.)3
 HSBC One account fee rate (p.a.)3
Below HKD50,000
 Waive
 Waive
HKD50,000 to less than HKD500,000
 1.5%
 1.75%
HKD500,000 to less than HKD1,000,000
 1.25%
 1.5%
HKD1,000,000 or above
 1%
 1.25%
Table of Fees
FundMax Account average holding balance
 Below HKD50,000
HSBC Premier account fee rate (p.a.)3
 Waive
HSBC One account fee rate (p.a.)3
 Waive
FundMax Account average holding balance
 HKD50,000 to less than HKD500,000
HSBC Premier account fee rate (p.a.)3
 1.5%
HSBC One account fee rate (p.a.)3
 1.75%
FundMax Account average holding balance
 HKD500,000 to less than HKD1,000,000
HSBC Premier account fee rate (p.a.)3
 1.25%
HSBC One account fee rate (p.a.)3
 1.5%
FundMax Account average holding balance
 HKD1,000,000 or above
HSBC Premier account fee rate (p.a.)3
 1%
HSBC One account fee rate (p.a.)3
 1.25%

3The account fee is calculated based on the average holding balance of open-end funds (excluding the No Subscription Fee Series and CapitALL funds). Terms and conditions apply, please refer to the Terms and Conditions section for more details. All other fees applicable to the relevant fund subscription will still apply.

How is the FundMax account fee calculated?

Monthly account fee = Average holding balance of open-end funds × Account fee % × no. of calendar days in the charging period ∕ no. of calender days for the full year (365 or 366)

Details of the account fee collected will be provided in the monthly account statement.

Example

Mr. Chan, an HSBC Premier customer, maintains a FundMax account with open-end fund holdings during April 2016. The monthly account fee for April 2016 is calculated as follows:

The monthly account fee for April 2016
Charging period
 Average holding balance of open-end funds for April 2016
1-30 April 2016 (30 days; 366 days in the full year)  HKD600,000
Account fee for April 2016 =
 HKD600,000 x 1.25% x 30/366 = HKD614.75
The monthly account fee for April 2016
Charging period
 1-30 April 2016 (30 days; 366 days in the full year) 
Average holding balance of open-end funds for April 2016
 HKD600,000
Charging period
 Account fee for April 2016 =
Average holding balance of open-end funds for April 2016
 HKD600,000 x 1.25% x 30/366 = HKD614.75

The account fee will be collected from the designated cash account on the last business days of the month.

Other service charges
Service
 Rate
Administration fee at account closure
Any accrued monthly account fee that has not yet been paid
Transfer fee
 1% of the prevailing market value of the units being transferred out
Other service charges
Service
 Administration fee at account closure
Rate
Any accrued monthly account fee that has not yet been paid
Service
 Transfer fee
Rate
 1% of the prevailing market value of the units being transferred out

Note: FundMax account is designed for customers who plan to periodically review and rebalance their portfolios in order to benefit from the features of the account. It may not be suitable for investors who plan to hold the same funds for a long time without any rebalancing.

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Disclaimer 

Terms and Conditions for Unit Trusts Fees & Charges :

  • Other promotional offers on open-end fund initial charge maybe available from time to time. Customer will enjoy the preferential initial charge offer set out above or the then prevailing promotional offer, whichever rate is lower.
  • Details of this open-end fund preferential initial charge offer may be changed from time to time at the discretion of The  Hongkong and Shanghai Banking Corporation Limited in Hong Kong SAR (the “Bank”) without prior notice.
  • The Bank reserves the right to change these Terms and Conditions at any time with reasonable notice and the initial charge offer may be withdrawn by the Bank at its discretion without prior notice.
  • In case of dispute, the decision of the Bank shall be final and conclusive.
  • In case of discrepancies between the English and Chinese versions of these Terms and Conditions, the English version shall apply and prevail.

 

FundMax Account Terms and Conditions:

General

  • FundMax Account is an Investment Services Account governed by Integrated Accounts Terms and Conditions which must be read in conjunction with the following terms and conditions for FundMax Account.
  • Customer must hold an HSBC Premier or HSBC One account in order to open a FundMax Account.
  • Trading in stocks, warrants, equity-linked notes/ investments and Stocks/Unit Trust Monthly Investment Plan are not applicable in FundMax Account.
  • Please note that frequent trading and market timing activities are strictly prohibited by fund managers in the interest of the funds. The Bank reserves the right to terminate any FundMax Accounts found engaging in such activities.

Monthly Account Fee

  • Initial charge and switching fee are waived for subscription or switching using the FundMax Account. Customers are still subject to other charges including but not limited to annual management fee, redemption charge, and performance fee as prescribed in respective fund offering documents.
  • Monthly account fee will start to accrue from the date when unit trust holdings (excluding funds in the 'No Subscription Fee Series', CapitALL funds and guaranteed funds) ('Relevant Funds') are first recorded in the FundMax Account.
  • Monthly account fee is calculated based on the average holding balance of Relevant Funds during the charging period and the rate corresponding to that balance. For funds denominated in foreign currencies, the holding balance in Hong Kong dollar equivalent will be used based on the prevailing exchange rate as of the date when the holding balance is calculated. The monthly account fee is calculated in Hong Kong dollar and charged in the denomination currency of your designated cash account at the prevailing exchange rate as of the date when the fee is collected if the cash account is denominated in currency other than Hong Kong dollars.
  • The monthly account fee is collected on the last business day of each calendar month and on a full-month basis. If the date from when unit trust balance is first recorded does not cover a full month, the monthly account fee for that month will be charged in the following month. Details of the monthly account fee can be found in the monthly composite statement for your FundMax Account.
  • The monthly account fee is debited from the designated cash account as specified at the opening of the FundMax Account. If you wish to change the designated cash account, the instruction must be received by the Bank 3 business days before the last business day of the month for the monthly account fee to be charged against the new cash account from that month.
  • If the debit for monthly account fee has been unsuccessful for 3 consecutive months, the FundMax account will be suspended.

Account Closure

  • Upon closure of FundMax Account, any accrued monthly account fee not yet charged will be collected from the designated cash account when all investment holdings have been redeemed or transferred out and the account is successfully closed.
  • If the period between the date of completion of the last subscription or switching of any Relevant Funds using the FundMax Account and the date of account closure is less than 1 year, an administration fee based on the relevant minimum charging balance and the corresponding rate will be collected from your designated cash account for the period from the date following the account closure to the date of anniversary of that transaction.

Transfer

  • For transfer-out of holdings in Relevant Funds from FundMax Account to other accounts, a transfer fee of 1% of prevailing market value of units being transferred will apply. The transfer fee will be charged against the designated cash account upon receipt of such instruction at the denomination currency of that cash account. If the fund denomination currency is not of the same currency as that of your designated cash account, the transfer fee will be converted to the denomination currency of your cash account at the prevailing exchange rate as of the date of collection. The transfer fee is not refundable irrespective of whether the transfer-out instruction is successfully executed or not.

Miscellaneous

  • These Terms and Conditions can be amended by the Bank from time to time on giving prior notice to the Customer by way of display in the Banks premises or by such other method as the Bank thinks fit. If the Customer does not close the FundMax Account prior to the expiry of the notice period, the Customer shall be deemed to have agreed to such amendment.

The English version of these Terms and Conditions shall prevail if there is any inconsistency between the English version and the Chinese version.

 

Disclaimer:

The information is not and should not be construed as an offer to buy or sell any investment products, and should not be considered as investment advice. You should carefully consider whether any investment products are appropriate in view of your investment experience, objectives, financial resources and relevant circumstances.

Investment involves risk. Investors should not only base on this material alone to make investment decisions. Please refer to the offering documents of the respective funds for details, including risk factors. The price of units or shares and the income from them may go down as well as up and any past performance figures shown are not indicative of future performance. The information contained on this website is intended for Hong Kong residents only and should not be construed as a distribution, an offer to sell, or a solicitation to buy any securities in any jurisdiction where such activities would be unlawful under the laws of such jurisdiction, in particular the United States of America. Please refer to the Unit Trust disclaimer for further important details.

Unit Trusts are investment products and some may involve derivatives. The investment decision is yours but you should not invest in the Unit Trusts unless the intermediary who sells it to you has explained to you that the product is suitable for you having regard to your financial situation, investment experience and investment objectives.

Unit Trusts are NOT equivalent to time deposits.

In the worst case scenario, the value of the unit trusts may be worth substantially less than the original amount you have invested.

The contents of this page have not been reviewed by the Securities and Futures Commission.

Issued by the Hongkong and Shanghai Banking Corporation Limited