HSBC Global Asset Management India has unveiled a new open-ended fund of funds scheme, called HSBC Managed Solutions.
The new fund will invest into various asset classes including domestic and offshore equity, long and short-term debt and gold, according to Moneyguruindia.
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The new open-ended fund of funds scheme will be open for subscription from 9-23 April 2014 with a minimum investment amount of INR 5, 000.
The fund will be managed by Sanjay Shah, Gaurav Mehrotra and Piyush Harlalka.
HSBC Managed Solutions will be based on the principles of active asset allocation and is available in growth, moderate and conservative options.
The fund’s investments will be managed across asset classes and rebalanced regularly to ensure optimal allocation for that risk profile.
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By GlobalDataPuneet Chaddha, CEO of HSBC Global Asset Management, India, said: "HSBC Managed Solutions allows people who do not have the time and expertise to manage their own portfolios to benefit from flexible asset allocation executed by our global award winning teams in a disciplined, risk-aware and cost effective approach, with the goal of capturing long-term growth."
Tushar Pradhan, CIO of HSBC Global Asset Management, India, said: "This active asset allocation based solution helps contain portfolio volatility and positions it well to deliver better risk-adjusted returns over the long term. HSBC Managed Solutions builds in regular rebalancing as a core feature which helps the portfolio remain aligned to the needs of the investor."
