HSBC Asset Management (India) Pvt Ltd has launched a close-end income scheme with a tenor of 370 days. HSBC Fixed Term Series 27, which will invest in debt and money market instruments, would be available for subscription till March 23, it said in a statement.
The scheme will not charge any entry load but levy an exit load of 2 per cent for redemptions before maturity, it added.
The fund house managed assets worth about Rs 120 billion at the end of February, data from Association of Mutual Funds in India showed.
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