HSBC MF Launches 370 Days Fund

Published: Wednesday, January 18, 2012, 13:49 [IST]

HSBC Mutual Fund has launched a new fund named as HSBC Fixed Term Series 83, a close ended debt scheme with the duration of 370 days from the date of allotment of units. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit.

Investment Objective:
The investment objective of the scheme would be to seek generation of returns by investing in a portfolio of fixed income instruments which mature on or before the maturity date of the scheme.

The fund seeks to collect a minimum subscription amount of Rs 100 crore under the scheme during the NFO period.

Allocation of funds:
The scheme would allocate 60% to 100% of assets in money market instruments and upto 40% of assets in debt instruments with low to medium risk profile.

Basic Details:
NFO Opens: January 18, 2012
NFO Closes: January 23, 2012
NFO Price: Rs 10 per unit
Options: Growth and Dividend Payout
Minimum Application Amount: Rs 10,000 and in multiples of Rs 1 thereafter
Exit Load: Nil
Benchmark: Crisil Short Term Bond Fund Index
Fund Managers: Ruchir Parekh and Kedar Karnik.