HSBC Global Asset Management, the funds division of the international banking group, has appointed Sebastien Faucher as head of passive fixed income — a role created ahead of the imminent launch of a new fund range.

Passive investing in bonds and other fixed income instruments has been growing apace in recent years, as products have been launched to allow investors to access them at relatively low cost. By the end of 2017, assets in exchange-traded funds holding fixed income had reached more than $755bn, according to data from ETFGI, having gathered $140bn in assets over the year.