HSBC encouraged by strong sales of FundMax
The scheme accounted for 30% of gross unit trust sales from May to December last year, with over half of FundMax customers buying their first unit trust with HSBC. It's a good sign for the industry, says Bruno Lee.
![HSBC encouraged by strong sales of FundMax](https://cdn.i.haymarketmedia.asia/?n=asian-investor%2Fcontent%2FBruno%20Lee.jpg&c=1&h=677&q=100&v=20245701&w=1204)
HSBC’s Bruno Lee expects unit trust (UT) wrap accounts to enter Hong Kong’s mainstream market within five years after reporting “encouraging” sales figures for FundMax.
FundMax was launched last May to provide unlimited UT transactions and fund switching to Hong Kong retail investors for an annual fee, as opposed to charging a front-end load for each transaction.
This all-in-one fee structure is designed to address concerns about transaction costs and drive up the penetration ra…
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