Long term investment account for children

[mlclau]

Looking to setup long term passive investment trading accounts for both kids (infant and toddler) starting with the HSI tracker (2800) before moving to a US / Whole World ETF once there's more to work with. I plan to make small monthly contributions (HK$1k), ideally automatically going forward.

Given the small amounts, HSBC's platform charges $25 per account which is prohibitive given the small amounts. Does anyone have any other suggestions of online brokers that have a lower charge and offer to take monthly contributions / make investments without having to do so manually?

Ideas or suggestions welcome!

[aw451]

How about looking into robo advisors and having one pot per child? The fees are usually percentage based and you can cash out and move elsewhere when the pot gets large to reduce the fees.

[shri]

@mlclau - thought the SMIP was essentially free...

https://www.hsbc.com.hk/investments/...ading/monthly/

[Crankshaft]

IBHK?

Why start with 2800 first? Chances are you will have "more to work with" quicker if you just go straight to a world fund.

[sarsi]

I actually went to check SMIP out for answers but didn't find it there..

Are there tax incentives for carrying out investments as I guess legal guardian in name of your children vs saving up for your children the usual way like investing it in own name and then apportioning it as required for kids?

[shri]

IBHK?

Why start with 2800 first? Chances are you will have "more to work with" quicker if you just go straight to a world fund.

Don't think there is an MSCI All World ETF (or even S&P 500) available from the usual low cost providers in HK. Funds yes - HSBC has this ... if you want to go down that route. Keeping in mind that it is tiny and no one gives a shit about it..

HSBC Global Equity Index Fund (CLASS HC-HKD-ACC)

https://investments3.personal-bankin...dDetail/U50004

Are there tax incentives for carrying out investments as I guess legal guardian in name of your children vs saving up for your children the usual way like investing it in own name and then apportioning it as required for kids?

Not in HK ... and I don't think you can do what you've suggested - open a proxy acct managed by an adult for underaged kids investments (could be wrong.. but I have looked for this in the past).

[GentleGeorge]

Just get S&P 500.

Cheapest index and any world index will most likely be 60%+ America anyway. All the extra 40% does is give you exposure to non-GAAP accounting and tinpot dictator risk