Financial Daily from THE HINDU group of publications
Wednesday, Dec 10, 2003
Financial Daily from THE HINDU group of publications Wednesday, Dec 10, 2003 |
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Markets
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Mutual Funds HSBC mutual announces special dividend Our Bureau
Mumbai , Dec. 9 HSBC Asset Management (India) Pvt Ltd, one year after flagging off operations, today announced an anniversary dividend for the HSBC equity fund and the launch of two new schemes. The pay out rate was not revealed since the trustees are yet to finalise it. It will be announced closer to the record date December 26, 2003, said Mr Sanjay Prakash, COO, HSBC Asset Management (India) Pvt Ltd, at a press conference here today. The fund, which manages assets of Rs 3,300 crore, is to launch an equity fund, 50 per cent of which can be invested in fixed income products in bearish markets and also a monthly income plan by mid-January 2004. The offer documents are in the process of being filed with the Securities and Exchange Board of India. The company plans to set up three new offices in Pune, Ahmedabad and Hyderabad and recruit 30 people in 2004.
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