mutual fund news: HSBC Mutual Fund launches HSBC CRISIL IBX 50:50 Gilt Plus SDL Apr 2028 Index Fund (HGSF)
According to the press release, HGSF, with a combination of quality debt securities, aims to provide better risk-adjusted performance and better liquidity. The fund will be benchmarked against the CRISIL IBX 50:50 Gilt Plus SDL Index – April 2028 and managed by Kapil Punjabi, SVP – Fund manager Fixed Income. The fund aims to focus on the six-year target maturity segment and take advantage of the current volatile outlook for long-term securities.
Commenting on the launch of the fund, Ravi Menon, CEO of HSBC AMC, said: “The HSBC CRISIL IBX 50:50 Gilt Plus SDL April 2028 Index Fund is ideal for investors seeking relatively low cost, minimal credit risk, high liquidity and tax-efficient investment product. The fund is a passive fund that replicates an index whose constituents consist exclusively of carefully selected Indian government securities and highly liquid government securities. The fund is an open-ended fund with a target maturity and offers better liquidity at a low cost.
The fund will invest in government securities that are part of the GSec portion of the CRISIL IBX 50:50 Gilt Plus SDL Index – April 2028, government development loan securities that are part of the SDL portion of the CRISIL IBX 50:50 Gilt Plus SDL index – April 2028. Apart from this, the scheme will also have an allocation to money market instruments, including cash and cash equivalents (treasury bills, government securities with a maturity residual of up to 1 year and tripartite pensions and any other similar instrument as specified by the Reserve Bank of India from time to time).