Platform fees are a straight HK$28 per month. Or HK$336 per year. Or 0.8% if the balance is more than 200k.
With those platform fees and each fund management fee at about 0.3%, then total fees are about:
- If you have $1000 invested = 0.3%
- If you have $10,000 invested = 3.7% (!)
- If you have $100,000 invested = 0.67%
- If you have $195,000 invested = 0.47%
- If you have $200,000 invested = 1.1% (!)
And the platform fees seem to apply to your average monthly holdings. But I can't find if this is the the average total holdings for each fund invested, or average for all your investments in Flexinvest or even the average for all your holdings with HSBC. In any case God forbid the investments make any money and push you over that 10k threshold.
Positives are low minimum purchases (only HK$100), zero transaction fees and the funds are domiciled in Ireland.
TBH this seems to be geared to those people who would like to day trade mutual funds (those people exist).
It also seems to be a way for HSBC to say "look, we offer index funds" so as to get the HKMA off their backs for their high mutual fund fees.