HSBC MF Unveils 2 Close-End Debt Funds

MUMBAI: HSBC Asset Management (India) Pvt Ltd has unveiled two close-end debt funds. HSBC Fixed Term Series 34 and HSBC Fixed Term Series 36 will mature in six months and 370 days respectively, and infuse in debt and money market instruments. The funds, open for subscription till Sept 26, will not charge any entry loads. However, those exiting before maturity will have to pay exit fees of 1.5% and 2% under series 34 and series 36 funds respectively. The fund house managed assets worth about Rs 172 billion at the end of August, data from Association of Mutual Funds in India showed.