HSBC Global Asset Management India has launched an open ended fund of funds scheme to invest into HSBC GIF Asia Pacific (Ex Japan) Equity High Dividend Fund.

The new HSBC Asia Pacific (Ex Japan) Dividend Yield Fund has been available from 3 February and will be closed on 17 February 2014.

The minimum investment amount is INR10000, while the investment can also be made through a systematic investment plan.

Michael Dillon and Sanjiv Duggal are the fund managers of the underlying offshore fund, and the local fund of fund scheme will be managed by Piyush Harlalka and Sanjay Shah.

Puneet Chaddha, CEO of HSBC Global Asset Management India said: "This fund allows investors to diversify their investments into the Asia Pacific region, employing a dividend yield strategy – a strategy that tends to outperform growth strategies over the long term."