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HSBC MF launches four schemes

Capital Market Bureau

HSBC Asset Management (India) Private Limited has launched four schemes of which one is an equity scheme and three are debt schemes. The initial offer period is from 14 November to 3 December 2002.

HSBC Equity Fund is an open ended equity diversified scheme. It seeks to generate long-term capital appreciation by investing in a diversified range of large and mid sized companies, with some exposure to smaller companies. The scheme offer growth and dividend options. The minimum investment amount is Rs 5000 and in multiples of Re 1 thereafter. The entry load is 2% and the fund does not charge exit load.

HSBC Income Fund seeks to generate regular returns by investing in bonds, debentures, and government securities and short term instruments like commercial papers, repos etc. The scheme offers Investment Plan for a time horizon greater than a year and Short Term Plan for a time horizon of 1-6 months. In the case of Short Term Plan the minimum investment amount is Rs 100000 and in multiples of Re 1 thereafter. In the case of Investment Plan the minimum investment amount is Rs 5000 and in multiples of Re 1. The short term plan does not have any loads but the Investment Plan charges an exit load of 0.25% if redeemed within 90 days for amounts below Rs 50 lakh and above Rs 50 lakh nil.

HSBC Cash Fund will primarily invest in money market instruments and short term debt market instruments. The objective of the Fund is to generate income with a minimal exposure to risk and to preserve the capital. As a result it is an ideal parking place for idle funds and ensures high liquidity by way of 1 business day redemption. It is ideal for individuals and corporates who want to invest for a period of 1 day to a month. The minimum investment amount is Rs 100000 and in multiples of Re 1 thereafter. The scheme does not have any loads.

HSBC Institutional Income Fund seeks to generate returns by investing in bonds, debentures, government securities and short term instruments like commercial papers, repos etc. The fund has two plans - Short Term and Investment Plan. The minimum investment amount under both plans is Rs 5 crore and in multiples of Re 1 thereafter. The scheme does not have any loads.

HSBC Asset Management (India) Private Limited is the Investment Manager to HSBC Mutual Fund, set up locally by the HSBC Group. The business is working on ambitious plans to position itself as one of the leading Private Sector Fund Managers in the Indian financial market - one of the most promising markets in Asia. It also aims to expand its customer base by extending its product range to include a wide variety of investment products and enhance its reputation in India of being a provider of international quality investment products and services.

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