HBIIX — HSBC Global High Income Bond Fund

HBIIX Fund Overview

HBIIX — HSBC Global High Income Bond Fund is a US mutual fund managed by Hsbc Funds, categorised as Europe Value Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Hsbc Funds
• Category: Europe Value Equity
• Assets under management: $33.69M
• 1-year return: 8.7%
• Ticker: HBIIX
• SEC CIK: 0000798290
• SEC series ID: S000048474
• Share class ID: C000152925

HBIIX Investment Objective and Strategy

HSBC Global High Income Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Hsbc Funds.

Investment objective

The investment objective of the HSBC Global High Income Bond Fund (the Fund) is to provide a high level of current income.

Principal investment strategy

The Fund seeks to achieve its investment objective by investing, under normal market conditions, at least 80% of its net assets, plus any borrowings for investment purposes, in a globally diversified portfolio of higher yielding securities. Higher yielding securities are those securities rated in the lowest investment grade category or lower by one or more nationally recognized statistical rating organizations (NRSROs) ( e.g. , Baa1 or lower by Moodys Investors Service (Moodys) or BBB+ or lower by Standard & Poors Ratings Services (S&P) or Fitch, Inc. (Fitch) or, if unrated, determined by HSBC Global Asset Management (USA) Inc., the Funds investment adviser (Adviser), or any investment subadvisers of the Fund, to be of comparable quality). The Fund invests in fixed income securities issued by companies or governments (or any political subdivision, agency, authority or instrumentality of a government) economically tied to a number of countries around the world, including the United States.

The Fund invests in at least three countries, including the United States, and may invest in the securities of issuers in emerging market countries. The Fund primarily invests in U.S. dollar denominated fixed income securities or fixed income securities denominated in a foreign currency that are hedged into U.S. dollars. The Fund may seek to hedge certain of its exposures to foreign currencies through the use of forward foreign currency exchange contracts. The Fund may also invest up to 20% of its total assets in local currency-denominated emerging markets fixed income securities. The Fund may use swaps ( e.g. , credit default, interest rate and total return swaps), forwards ( e.g. , forward foreign currency exchange contracts), futures, options and other derivative instruments for hedging purposes, cash management purposes, as a substitute for investing in fixed income securities, or to enhance returns.

For example, the Fund may use credit default swaps to manage credit risk, interest rate swaps to manage interest rate risk and forward foreign currency exchange contracts to manage currency risk. The Fund may also use derivatives, including futures, for investment purposes when the Adviser or any Subadvisers (as defined below) believe that doing so will assist the Fund in achieving its investment objective. For purposes of meeting its 80% investment policy, the Fund may include derivatives that have characteristics or exposures similar to higher yielding securities. The Fund may also purchase investment grade fixed income securities. Investment grade fixed income securities are securities that are rated by one or more NRSROs within one of the four highest long-term quality grades at the time of purchase ( e.g.

, AAA, AA, A or BBB by S&P or Fitch or Aaa, Aa, A or Baa by Moodys). The Fund may also invest up to 20% of its total assets in mortgage-backed securities and asset-backed securities. The Fund may also invest in convertible bonds, including contingent convertible bonds (up to 10% of its total assets). Convertible bonds, which may be issued by companies of all sizes and market capitalizations, include, but are not limited to: corporate bonds, debentures, notes or preferred stocks and their hybrids that can be converted into (exchanged for) common stock or other instruments, such as warrants or options, which provide an opportunity for equity participation. Convertible bonds generally fall within the lower-rated categories as determined by an NRSRO. The Funds portfolio is carefully constructed by a lead portfolio manager of the Adviser.

The lead portfolio manager can also utilize the capabilities of HSBC Global Asset Management (France) (AMFR) or HSBC Global Asset Management (UK) Limited (AMEU and, together with AMFR, the Subadvisers) by receiving and acting upon investment recommendations made by the Subadvisers. If determined to be beneficial by the Adviser, AMFR may manage the Funds investments in European fixed income securities and AMEU may manage the Funds investments in global asset backed securities, each of which would be managed as a portion (or sleeve) of the Funds total portfolio. The lead portfolio manager would manage the Funds overall duration and spread risk and manage allocations to other asset classes. Through top-down oversight, the lead portfolio manager determines asset and, if deemed beneficial, sleeve allocations and currency and duration positioning, among other things.

Securities are selected for purchase and sale through a fundamental research-driven bottom-up investment process, in which issuers are analyzed based on fundamental credit research and standard valuation tools. Securities are also selected through a top-down investment process, based on regional, sector and credit allocations. The Fund may purchase securities of various maturities, but expects under normal market conditions to maintain an average portfolio duration that normally varies within 1.5 years (plus or minus) of the duration of the Bloomberg Barclays High Income Bond Composite Index, which as of December 31, 2017 was 5.66 years.

HBIIX Performance

Total returns for HBIIX (as of 2026-10-01), from SEC filings.

HBIIX Risk Information

Risk metrics for HBIIX, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 13.6%

HBIIX Costs and Fees

HBIIX costs about $70 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.70%
• Gross expense ratio: 2.41%
• Portfolio turnover: 104%
• Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)

HBIIX Cashflows

Over the 12 months to 2021-01, HSBC Global High Income Bond Fund had net inflows of $6.65M, from monthly SEC N-PORT filings.

HBIIX Debt Constituents

No individual debt constituents are reported in HSBC Global High Income Bond Fund's latest SEC N-PORT filing.

HBIIX Prospectus and SEC Filings

Official HSBC Global High Income Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2020-03-12
• Prospectus supplement (497) — filed 2019-10-11
• Prospectus supplement (497) — filed 2019-04-17
• Portfolio holdings (N-PORT) — filed 2021-03-30
• Portfolio holdings (N-PORT) — filed 2020-12-28
• Portfolio holdings (N-PORT) — filed 2020-09-24
• Annual census (N-CEN) — filed 2021-01-12
• Annual census (N-CEN) — filed 2020-01-14

Related Funds

Other Europe Value Equity funds tracked on ABC INVEST:

• First Trust STOXX European Select Dividend Index Fund (FDD)
• Janus Henderson Dividend and Income Builder Fund (HDAVX)
• Boston Common ESG Impact U.S. Value Fund (BCVIX)
• Formidable Dividend and Income ETF (FODI)
• Grayscale Ethereum Premium Income ETF (ETPI)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.