Following fund manager Tim Russell's departure from HSBC, caution over the fund he managed has set in. Four other managers left HSBC, including Chris Rice, manager of the European Growth fund. Mr Russell managed the HSBC UK Income & Growth Fund and doubts are being banded around as to the future management and performance of the fund.
Many financial advisory groups are now changing their stance on the fund from 'buy' to 'hold', and are awaiting further news on the fund. Some companies that actively promoted the fund on their recommended lists have now removed the fund.
If you hold the HSBC fund and need advice contact us for help.