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HSBC Mutual Fund has launched HSBC Consumption Fund, an open-ended thematic fund.
The fund will invest at least 80% of the total corpus in consumption-related sectors.
Gautam Bhupal, Senior Vice President, Equities, HSBC MF and Sonal Gupta, Head Research Equities, HSBC MF will co-manage the scheme.
In a press release, Kailash Kulkarni, CEO, HSBC MF said, “The consumption story in India is driven by several factors including rise in disposable income and expansion of the middle-income segment. With Indians now becoming far more aspirational, there is a sea change in their consumption and spending patterns, strongly backed by digitization. These factors will drive strong consumptions spends in the coming decade."
