HSBC Mutual Fund is set to launch an equity fund. Named as HSBC Advantage India Fund, it will invest in stocks that are likely to benefit from the economic development of India. The fund will be initially available for subscription from December 30, 2005 to January 27, 2006. The fund will be benchmarked against BSE 200 index.
HSBC Advantage India Fund proposes a theme-based approach of investing whereby the fund manager will focus on one or two themes which are likely to drive India's growth story at a given point in time. The fund lists its key focus areas as- infrastructure, consumption, outsourcing, global competitiveness and reforms.
The fund will charge an entry load of 2.25 per cent for investments of an amount less than Rs 5 crore, while no entry load will be charged for investments of Rs 5 crore and above. It will also charge an exit load of 1 per cent on investments of less than Rs 5 crore, if redeemed within 6 months from the date of allotment, while no exit load will be charged for investments of Rs 5 crore and above.
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