Mutual Fund News : HSBC Mutual Fund files offer document for HSBC Money Market Fund

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HSBC Mutual Fund has filed offer document with SEBI to launch ‘HSBC Money Market Fund’ – an open-ended debt scheme categorized under Money Market Funds.

The investment objective of the scheme is to provide liquidity and generate reasonable returns with low volatility through investment in a portfolio comprising of money market instruments having maturity up to one year.

The performance of the scheme will be benchmarked against CRISIL Money Market Index.

The New Fund Offer price is Rs 1,000 per unit and the minimum application amount for initial purchase is Rs 5,000 and in multiples of Re 1 thereafter. The schemes offer growth and dividend options.

It seeks to collect a Minimum Target Amount of Rs 20 crore.