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Friday, February 07, 2014

HSBC Fixed Term Series 105 Floats On

NFO period is from 05 February to 10 February 2014 

HSBC Mutual Fund has launched a new fund named as HSBC Fixed Term Series 105 (421 days), a close ended income scheme with the duration of 421 days from the date of allotment of units. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue is open for subscription from 05 February and closes on 10 February 2014. 

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 scheme offers growth and dividend payout option. 

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. 

The minimum application amount is Rs 5,000 and in multiples of Rs 1 thereafter. 

The fund seeks to collect a minimum subscription (minimum target) amount of Rs 20 crore under the scheme during the NFO period. 

Entry and exit load charge for the scheme will be nil. 

Benchmark Index for the scheme is Crisil Short Term Bond Fund Index. 

The fund manager for the scheme will be Ruchir Parekh.
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