HSBC Global Strategy Balanced Portfolio - Some general questions

blackeagle

Hello everyone,

I have been following the forum for a while as a reader but decided to post now as I would appreciate some advice.
Before I start, I must say have already read the related topics on this forum (cannot put any links as I am new user and not allowed to) and they have been truly helpful.
Just a couple of questions mainly because I am new to the UK and new to the world of investing here.

Some info about myself;

I hold an HSBC savings account and opened an HSBC Invest Direct through which I am planning to invest. As I am not British, I would like to play it safe and need to be able to withdraw easily if needed.

My risk appetite is moderate, I am in my mid 20s. 60-40 equity OK with me. Just want to make use of my savings.I can invest up to £40K but am thinking of starting slow with ~£10K-ish and see how it goes. (mainly because I am very new in the country and not familiar with how things work)

I work for an international company and am currently on an assignment here in the UK. This is an open ended contract though I am planning to stay for another 3-5 years.

Some questions where I would appreciate your advice;

I have read through their KIID and T&C and they did specify that I can end my investment when I want but it was not clear to me if this is associated with any penalties / extra charges etc? This is very important for me as I might need to move to another country before the recommended 5-yr period though very likely not earlier than next 2-3 years.

Has anybody had or heard any unpleasant experiences with this fund or HSBC's GIC platform? Anything I should be wary of?

How easy is it to track the returns on this fund and how frequently? I see there is a post about is dating last year but I reckon things may have changed since then?

Would you recommend any other platforms for me to explore just to diversify later? I have read quite a bit about VG LS60 already but would appreciate some other ideas as well.

Many thanks in advance for taking the time and reading this post full of (very) basic questions!
It is always a bit tricky abroad and some good advice is priceless! :beer:

masonic

Such funds are valued and traded once per day when markets are open. There is no bid/offer spread on this fund, so the only charges you'll incur are trading charges from your provider, which can be looked up (and might not apply to funds). The current unit price and performance data is available from several places, and you should be able to get an up to date valuation within your account.

tin586

blackeagle wrote: »

I have read through their KIID and ToC and they did specify that I can end my investment when I want but it was not clear to me if this is associated with any penalties / extra charges etc? This is very important for me as I might need to move to another country before the recommended 5-yr period though very likely not earlier than next 2-3 years.

Has anybody had or heard any unpleasant experiences with this fund or HSBC's GIC platform? Anything I should be wary of?

How easy is it to track the returns on this fund and how frequently? I see there is a post about is dating last year but I reckon things may have changed since then?

Would you recommend any other platforms for me to explore just to diversify later? I have read quite a bit about VG LS60 already but would appreciate some other ideas as well.

Many thanks in advance for taking the time and reading this post full of (very) basic questions!
It is always a bit tricky abroad and some good advice is priceless! :beer:

- You will need to satisfy yourself by reading the t’s and c’s, but my understanding is that there are no account closure fees (if that’s what you’re asking). They will close your account anyway (and return the proceeds to you) if you cease to be a UK resident.

- No personal experience, but a friend of mine who moved here from the US seems satisfied with them. However, I have been telling him to look at a few other options, as there are cheaper than this with its 0.25% platform fee (admittedly this is by no means the worst) and it has a limited range of funds.
The fund is one I have considered, but I don’t like being a captive of any bank’s platform.

- I found monitoring investments very easy after I invented the internet.

- iWeb has a one off account opening fee and then a £5 per transaction fee, but a wider selection of funds and no ongoing platform fee. It’s one I have suggested to my friend. Have a look at this well: https://monevator.com/compare-uk-cheapest-online-brokers/

As to the risks of investing over a relatively short term horizon, that’s your lookout!:)

El_Torro

blackeagle wrote: »

• Would you recommend any other platforms for me to explore just to diversify later? I have read quite a bit about VG LS60 already but would appreciate some other ideas as well.

To look at how HSBC Global Strategy compares to other similar funds a good starting point would be this thread: https://forums.moneysavingexpert.com/discussion/6067313/hsbc-global-strategy-vs-vanguard-lifestrategy


An article which goes into more detail about the different funds available (which I also linked to in that thread): https://monevator.com/passive-fund-of-funds-the-rivals/


One important thing to remember is that global multi asset funds (like your current HSBC Global Strategy fund) are designed as a one stop shop. So you don't necessarily need other funds, as you are already pretty well diversified.

blackeagle

masonic wrote: »

Such funds are valued and traded once per day when markets are open. There is no bid/offer spread on this fund, so the only charges you'll incur are trading charges from your provider, which can be looked up (and might not apply to funds). The current unit price and performance data is available from several places, and you should be able to get an up to date valuation within your account.

Thank you very much for your response.
I wonder how exactly the interface looks in particular, I will call them this week to find out about that.