HSBC Mutual Fund seeks SEBI nod for equity hybrid fund

HSBC Mutual Fund has sought Securities and Exchange Board of India's approval to launch HSBC Equity Hybrid Fund, as per the draft offer document on the regulator's website.

The open-ended hybrid scheme will deploy 65-80 percent of its corpus in equities and equity-related securities, 20-35 percent in debt instrument and money market instrument including cash and cash equivalents and up to 10 percent in units issued by real estate investment trusts (REITs) and infrastructure investment trusts (InvITs).

Other features:
* Plans: Regular and direct
* Options: Growth and dividend
* Minimum application: Rs 5,000 and in multiples of one rupee thereafter
* Exit Load: 1 percent on redemption or switched-out on or before one               year from the date of allotment
* Performance benchmark: 70 percent weight to S&P BSE 200 and 30                   percent to CRISIL Composite Bond Fund Index.* Fund managers: Neelotpal Sahai and Sanjay Shah