HSBC mutual launches two close-end debt funds

HSBC mutual launches two close-end debt funds

By Reuters

Mumbai: HSBC Asset Management (India) Pvt Ltd launched two close-end debt funds on Wednesday.

HSBC Fixed Term Series 34 and HSBC Fixed Term Series 36 would mature in six months and 370 days respectively, and invest in debt and money market instruments, the fund house said.

The funds, open for subscription till 26 September, will not charge any entry loads. However, those exiting before maturity would have to pay exit fees of 1.5% and 2% under series 34 and series 36 funds respectively.

The fund house managed assets worth about Rs172 billion at the end of August, data from Association of Mutual Funds in India showed.