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Article: Supermarkets limit choice of offshore funds.(Survey)(Brief article)
- Article from:
- Money Marketing
- Article date:
- April 17, 2008
CopyrightCOPYRIGHT 2008 Centaur Communications Limited. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Fund supermarkets are acting as an obstacle to increased offshore product sales, according to an HSBC survey.
It reveals that 84 per cent of advisers believe they would do more offshore business if platforms offered more offshore funds. The research shows that offshore funds make up 11 per cent of advisers' existing investments but that 54 per cent expect they will do more offshore fund business in five years time.
HSBC Investments wholesale managing director Andy Clark says advisers are not getting access to the best selection of products on supermarkets.
He says: "By focusing on UK-domiciled funds, platforms are offering access to a good ...