Mutual Fund News : HSBC Mutual Fund files offer document for Ultra Short Duration Fund

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HSBC Mutual Fund has filed offer document with SEBI to launch an open ended ultra-short term debt scheme named ‘HSBC Ultra Short Duration Fund'.

The investment objective of the scheme is to provide liquidity and generate reasonable returns with low volatility through investment in a portfolio comprising of debt & money market instruments.

The performance of the scheme will be benchmarked against CRISIL Ultra Short Term Debt Index.

The New Fund Offer price is Rs 1000 per unit, and the minimum application amount for initial purchase is Rs 5000 and in multiples of Re 1 thereafter.

The scheme offers growth and dividend options and seeks to collect a Minimum Target Amount of Rs 20 crore. Entry load and Exit load will be nil.