Mutual Fund News : HSBC Mutual Fund launches HSBC Ultra Short Duration Fund

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HSBC Mutual Fund has launched HSBC Ultra Short Duration Fund. It is an open ended ultra-short term debt scheme investing in instruments such that the Macaulay Duration of the portfolio is between 3 months to 6 months.

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 fund will be benchmarked against CRISIL Ultra Short Term Debt Index.

The fund will be managed by Mr. Kapil Punjabi.

The NFO opens for subscription on January 14, 2020 and closes on January 28, 2020.

The New Fund Offer is priced at Rs 1,000 per unit and the minimum application amount for initial purchase is Rs 5,000 and in multiples of Re 1 thereafter.