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HSBC MF Launches Fixed Maturity Plan

HSBC Mutual Fund has launched a fixed maturity debt fund. Named as HSBC Fixed Term Series I (HFTS I), it will have a tenure of 18 months. The fund will be open for subscription from November 7 to November 28, 2005.

HTFS I will invest in a portfolio of money market instruments, short-term and medium-term debt instruments, normally maturing in line with the tenure of the plan. The fund will not charge any entry load, while an exit load of 4 per cent will be charged for redemptions before the defined maturity.