HSBC Global Asset Management has merged its three HSBC International Select funds into its Luxembourg-domiciled World Selection range.

The asset manager hopes the move will result in lower costs and greater diversification. The firm also said that the HSBC World Selection suite of funds will continue to be managed according to their current investment objectives and strategies. The funds are sold in 22 countries globally.

In other recent developments at HSBC Global Asset Management, last month the firm made four research hires. Joining the team in London are Julien Seetharamdoo as senior economist and Rabia Bhopal as economist, investment strategist. Seetharamdoo was latterly an investment strategist focusing on bonds at Coutts Investment Services, while Bhopal joins from Standard & Poor’s, where she was an economist. Joining in Hong Kong are Herve Lievore as senior economist and Renee Chen as economist, investment strategist. Lievore was previously an economist/strategist at AXA Investment Managers, while Chen was latterly an economist at Macquarie Capital Securities.