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HSBC Small Cap Fund turns Open-Ended

HSBC Mutual Fund has announced the conversion of HSBC Small Cap Fund, a close-ended equity scheme into an open-ended equity scheme with effect from March 25, 2011.

All the provisions pertaining to a close-ended scheme will cease to be applicable and those pertaining to an open ended scheme shall be effective from the above date. The investment objective, asset allocation pattern, investment strategy, annual recurring expense ratio etc., of the scheme will remain unchanged, upon conversion.

New investment in the scheme will be subject to an exit load of 1 per cent if redeemed within 1 year from the date of investment.