New fund offer of Series 82 and 83 will close on January 19, 2012 and January 23, 2012 respectively.
Mumbai: HSBC Asset Management has launched two fixed term series: HFTS 82 and HFTS 83. Both schemes will be jointly managed by Ruchir Parekh and Kedar Karnik, and benchmarked against the CRISIL Short Term Bond Fund Index. As per the investment objective, both series will seek to generate returns by investing in a portfolio of fixed income instruments which mature on or before the maturity date of each plan.
As per the investment strategy, both schemes would allocate 95-100 percent of assets in money-market instruments, especially Certificate of Deposits (CDs), which are of A1+ rating by a recognized credit rating agency. The remaining will be invested in debt instruments like CBL, reverse repos etc.
The interest rate risk to these instruments will be low to medium. Moreover, the minimum application amount will be Rs. 10,000 and the scheme will not charge any entry/exit load and switch over fee.
