HSBC MF introduces Financial Services fund
HSBC Mutual Fund has launched HSBC Financial Services fund, an open-ended equity scheme investing in financial services sector. The NFO opens for subscription on February 06, 2025 and closes on February 20, 2025. No Entry Load will be charged for the scheme. The Exit load: i. If the units redeemed or switched out are up to 10% of the units purchased or switched in (‘the limit’) within 1 year from the date of allotment - Nil, ii. If units redeemed or switched out are over and above the limit within 1 year from the date of allotment - 1%, iii. If units are redeemed or switched out on or after 1 year from the date of allotment - Nil. No Exit load will be chargeable in case of switches made between different options of the Scheme. No Exit load will be chargeable in case of Units allotted on account of IDCW reinvestments, if any. Exit load is not applicable for Segregated Portfolio. The exit loads set forth above is subject to change at the discretion of the AMC and such changes shall be implemented prospectively. The minimum subscription amount is Rs 5,000/- per application and in multiples of Re. 1/- thereafter.
The performance of the scheme will be benchmarked against BSE Financial Services Index Total Return Index (TRI) and its fund manager is Gautam Bhupal.
The investment objective of the scheme is to generate long-term capital appreciation from a portfolio that is invested predominantly in equity and equity related securities of companies engaged in financial services businesses.
