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.
