HSBC Bank Canadas fund unit, HSBC Investment Funds, is going load and will sell its products through third-party financial advisers. The 17-fund unit is adding new share classes to target advisers. The funds were formerly distributed through HSBC bank branches as no-loads, but not anymore.
The company has attached an F-class to its funds which can be used in adviser wrap programs and with fee-based advisers, the company said. It also added an O-class for institutional advisers as well as B-shares, giving advisers the option of a front- or back-end load, the company said.