Thursday, February 25, 2010

HSBC MF plans to unveil Brazil Equity Fund

Mutual Fund is set to launch an open-ended fund of fund scheme called HSBC Brazil Equity Fund. The fund has filed an offer document with the market regulator, the Securities and Exchange Board of India. The fund's performance will be benchmarked to the MSCI Brazil 10/40 Index. The minimum application amount is Rs 10,000.

Last week, Benchmark Mutual Fund launched its first international exchange-traded fund, the Hang Seng BeES, based on the Hong Kong stock exchange's Hang Seng index. In July 2009, JPMorgan Asset Management had launched Greater China Equity Offshore Fund, while in September, Mirae Asset Global Investment launched its Mirae Asset China Advantage Fund.

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