HSBC mutual launches 370-day income fund

HSBC mutual launches 370-day income fund
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First Published: Wed, Mar 21 2007. 06 21 PM IST
Updated: Wed, Mar 21 2007. 06 21 PM IST
Reuters
MUMBAI: HSBC Asset Management (India) Pvt Ltd said on 21 March it has launched a close-end income scheme with a tenor of 370 days.
HSBC Fixed Term Series 27, which will invest in debt and money market instruments, would be available for subscription till 23 March, it said in a statement.
The scheme will not charge any entry load but levy an exit load of 2% for redemptions before maturity, it added.
The fund house managed assets worth about Rs12,000 crore ($2.7 billion) at the end of February, data from Association of Mutual Funds in India showed.
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First Published: Wed, Mar 21 2007. 06 21 PM IST
More Topics: Money Matters | Mutual Funds |