Financial Daily from THE HINDU group of publications
Tuesday, Oct 04, 2005
Financial Daily from THE HINDU group of publications Tuesday, Oct 04, 2005 |
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Markets
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Mutual Funds HSBC MF moots Incredible India fund Our Bureau
Kolkata , Oct. 3 HSBC MF has drafted an equity fund - Incredible India Fund - with a view to generating long term capital growth by investing mainly in sectors that play an important role in, and benefit from, India's reform process and economic development. The broad themes, identified by the offer document are, consumption, infrastructure, outsourcing and global competitiveness. The fund will attempt to take a medium term view on these opportunities and will try to run a more concentrated portfolio. In normal circumstances, the fund will allocate at least 65 per cent to equities. The fund manager will be free to move a significant portion of the assets to fixed income securities. A top down approach will be employed and investments will be pursued in select areas.
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