HSBC MF introduces Consumption Fund
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HSBC Mutual Fund (MF) has launched HSBC Consumption Fund, an open-ended equity scheme following consumption theme. The NFO opens for subscription on August 10, 2023 and closes on August 24, 2023. The Entry load is nil for the scheme. The Exit load is nil- if units redeemed or switched out are upto 10% of the units purchased or switched in within 1 year from the date of allotment, 1% exit load- if units redeemed or switched out are over and above the limit within 1 year from the date of allotment and no exit load, if units are redeemed or switched out on or after 1 year from the date of allotment. The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereafter.
The performance of the scheme will be benchmarked against Nifty India Consumption Index TRI and its fund managers are Gautam Bhupal (Domestic equities) and Sonal Gupta (Overseas Investments).
The investment objective of the scheme is to generate long-term capital growth from an actively managed portfolio of equity and equity related securities of companies engaged in or expected to benefit from consumption and consumption related activities.
