
HSBC Mutual Fund has launched the HSBC Floating Rate Fund (HFRF). The fund's Initial Public Offer (IPO), which began on November 1, will continue till November 8.
The HFRF is an open-ended income scheme that will seek to generate reasonable returns with commensurate risk, from a portfolio comprised of floating rate debt instruments and fixed rate debt instruments, swapped for floating rate returns. The scheme may also invest in debt and money market instruments. The HFRF is available both in long-term and short-term plans.