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HSBC Total Return Fund tweaks investment strategy
By Toni Weeks
San Diego, March 30 - HSBC Funds said it has made a change to the principal investment strategy of its HSBC Total Return Fund, according to a 497 filing with the Securities and Exchange Commission.
The fund will exclude cash and cash equivalents from the assets it makes investments with to achieve its objective. The fund's assets, excluding cash and cash equivalents, will be invested in the same manner as before, primarily in instruments of instruments tied to emerging market countries, including derivative instruments such as futures, forward, swaps, options, swaptions and credit default swaps. The fund, though, will not consider cash and cash equivalent as part of the assets.
The fund also said it expects to maintain an average portfolio duration of one to five years. Previously, that range was one to three years.
HSBC Global Asset Management (USA) Inc. is the fund's investment adviser.
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