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Our Bureau

Mumbai , Jan. 25

HSBC Mutual Fund is seeking the Securities and Exchange Board of India's approval to launch a mid-cap fund.

This open-ended equity scheme seeks to generate long-term capital growth from an actively managed portfolio of equity and equity related securities primarily being mid- and small-cap stocks. However, it could move a significant portion of its assets towards fixed income securities if the fund manager becomes cautious or negative on the Indian equity markets, according to the offer document of the fund.

The scheme could invest 50-100 per cent of its assets in equity and equity related securities and 0-50 per cent in money market instruments.

The minimum application amount for the fund is Rs 5,000. The fund would be available on dividend and growth options, says the offer document, which has been filed with the SEBI. The likely dates of the IPO of the scheme have not been specified.

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