HSBC Mutual Fund has filed an offer document with SEBI to launch an open ended fund of fund – HSBC China Consumer Opportunities Fund.
The fund will invest in HSBC Global Investment Funds (HGIF) China Consumer Opportunities Fund as its underlying scheme. The scheme can also invest in other similar overseas fund. The scheme comes with a growth option only.
The underlying fund, HGIF China Consumer Opportunities Fund invests in mid and large cap companies around the world positioned to benefit from growing middle class and changing consumer behavior in China. The investment universe mainly comprises mid to large cap global companies with significant revenues in the luxury sector as well as consumer discretionary and staples sectors that have appeal and recognition among Chinese consumers.
Benchmark: MSCI AC World Index. The MSCI ACWI consists of 45 country indices comprising 24 developed and 21 emerging market country indices.
Fund Manager: Gaurav Mehrotra
Exit Load: 1% if redeemed/switched before one year. The will be no exit load for switches between equity schemes.
Minimum Investment: Rs. 10,000 & in multiples of Rs. 1,000
Minimum Redemption Amount: Rs. 1,000
Investment Process & Philosophy of HGIF China Consumer Opportunities Fund
The underlying scheme will invest in the consumer discretionary and consumer staples sector which includes, but is not limited to automobiles & components, consumer durables & apparel, consumer services, media, retailing, food & staples retailing, food, beverage & tobacco, household & personal products industries.
As on 31 October 2011, HGIF China Consumer Opportunities Fund had exposure to the following countries:
As on 31 October 2011, the sector allocation of HGIF China Consumer Opportunities Fund (underlying scheme) was as follows:
