Mumbai: HSBC Mutual Fund has decided to convert HSBC Small Cap Fund into an open ended scheme as the closed end scheme completes three years. The change will be from March 25, 2011.
After conversion into an open ended scheme, the fund will charge one per cent as exit load if units are redeemed within 1 year from the date of allotment. As per the terms of the revision, investors will get the facility to purchase and redeem units at NAV based prices on every business day on an ongoing basis.
All features including the nature, objective, asset allocation pattern and fundamental attributes of the scheme shall remain unchanged. The scheme is jointly managed by Dhiraj Sachdev and Dhimant Shah. It is benchmarked against BSE Small Cap Index.
