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Tuesday, March 03, 2009

HSBC Gilt Fund-Short Term Plan announces various changes

With effect from 12 March 2009

HSBC Mutual Fund has approved some changes in HSBC Gilt Fund – Short Term Plan. The name of the scheme, exit load structure and benchmark index of the HSBC Gilt Fund – Short Term Plan will be revised with effect from 12 March 2009.

Accordingly, the scheme will be renamed as HSBC Gilt Fund (HGF) from HSBC Gilt Fund – Short Term Plan.

The fund has proposed to charge an exit load of 0.5% (includes Systematic Investment Plan (SIP)/ Systematic Transfer Plan (STP)) if redeemed/switched out within 6 months from the date of investment. presently, it does not charge any exit load.

The benchmark of the scheme will be changed to I Sec Composite Index instead of I Sec Si-bex.

HSBC Gilt Fund -Short Term Plan is an open ended gilt scheme aims to generate reasonable returns through investments in Government Securities of various maturities.

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