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HSBC MF Announces Winding up of its Gilt Fund

Unable to meet the SEBI December 31 deadline on big investors' concentration, HSBC Mutual Fund has announced winding up of the long-term plan of HSBC Gilt Fund. It may be mentioned here that on December 13, 2003, the regulator had asked all the mutual funds to ensure that they had at least 20 investors in each scheme. Also, the AMCs had been directed to ensure that none of the investors had more than 25 per cent share of assets of the schemes.