HSBC Hong Kong has launched Portfolio+, a digital discretionary investing service for eligible retail customers on the HSBC HK App.
The launch also adds an “invest for me” option to the bank’s “invest with me” and “invest myself” services.
With discretionary investing, professional managers make investment decisions for clients.
Traditionally, private banking and wealth management have offered this approach.
According to HSBC, Portfolio+ is the first retail bank-led service of this kind in Hong Kong with automatic rebalancing.
It targets customers with limited time or investment experience. Each portfolio holds exchange-traded funds (ETFs) spread across various markets and asset classes.
HSBC’s portfolio managers also monitor markets and rebalance each portfolio to match the customer’s strategy and risk profile.
Customers can then create one or more portfolios using Growth, Enhanced Income and Sustainable strategies.
Risk levels range from 1 to 5 where applicable. An optional Future Trends Stocks add-on is also available for selected strategies and risk levels.
The minimum initial investment is HKD10,000, while additional investments start from HKD1,000.
A tiered platform fee of 0.5 to 0.8 per cent per annum applies, depending on assets under management. HSBC charges this fee monthly.
“Our goal is to democratise access to professionally managed investing through digital innovation, enabling a broader range of eligible customers to benefit from HSBC’s investment expertise and disciplined approach,”
said Winnie Ng, Head of Wealth and Premier Solutions, Retail Banking and Wealth at HSBC Hong Kong.
“Portfolio+ offers simple digital access to professional portfolio management, while those seeking more sophisticated support can continue to work with a relationship manager,”
said Janet Pang, Head of Retail Business, Retail Banking and Wealth at HSBC Hong Kong.
Featured image: Edited by Fintech News Hong Kong, based on image by rafiahmedrihan via Magnific.
