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  • NFO News HSBC Mutual Fund launches HSBC Brazil Fund

    HSBC Mutual Fund launches HSBC Brazil Fund

    HSBC Mutual Fund has floated an open ended fund of fund HSBC Brazil Fund
    Team Cafemutual Apr 18, 2011

    MUMBAI: HSBC Mutual Fund has floated an open ended fund of fund HSBC Brazil Fund.

     

    NFO Date: April 15, 2011 to April 29, 2011

     

    Investment Objective: The scheme seeks to provide long term capital appreciation by investing predominantly in units/shares of HSBC Brazil Equity Fund.

     

    Investor need it seeks to fulfill: Investors who have decent exposure to Indian equities can look at participating in Brazil’s growth story for diversifying their portfolios.

     

    Asset Allocation: The scheme aims to invest at least 95 per cent to 100 per cent of asset in units/shares of HGIF Brazil Equity Fund with medium to high risk profile. It further allocates 5 per cent to 20 per cent of asset in money market instruments with low to medium risk profile.

     

    Distribution Strategy: The fund will be marketed mainly through its 50 HSBC Bank branches and through IFAs and national distributors.

     

    Target investors: The fund is targeted towards retail HNIs.

     

    Application Amount: Rs. 10,000 and in multiples of Rs thereafter.

     

    Expenses/Exit Load: The scheme will charge 1 per cent exit load if investment redeemed within a one year.

     

    Fund Managers: The scheme will be jointly managed by Sanjay Shah, Vice President & Fund Manager, Fixed Income and dedicated fund manager for investments in foreign securities Gaurav Mehrotra, Assistant Vice President, Investment Management and Niren Parekh, Associate Vice President, Investment Management.

     

    Benchmark Index: MSCI Brazil 10/40 Index

     

    IFAs empanelled: Around 8,000

     

    AUM: Rs 4,452 crore as on January - March 2011

    Custodian/RTA: JP Morgan Chase Bank is custodian bank and CAMS is the official registrar of HSBC Mutual Fund.

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