HSBC Mutual Fund launches HSBC Mid Cap Fund

HSBC Asset Management, India has launched the HSBC Mid Cap Fund- an open-ended equity scheme predominantly investing in mid-cap stocks. The NFO opens today and will close for subscriptions on September 20th. HSBC Mid Cap Fund will follow Nifty Mid Cap 150 Index TRI Benchmark and will be managed by Ankur Arora, SVP and Fund Manager, HSBC AMC.

Speaking about the fund, Ankur Arora, senior vice president and fund manager, HSBC AMC, said, “HSBC Mid Cap Fund aims to build a concentrated portfolio through the bottom-up implementation of stock ideas and top-down approach for prudent risk control. The fund will explore opportunities in the innovative disruptive theme and is expected to benefit from the construction of a fresh portfolio which is at the beginning of the expansion cycle.”

According to the fund house, the scheme will have the flexibility to invest across large-, mid- and small-cap companies, but will be invested at least 65% in mid-cap companies. The fund will explore opportunities in the expansionary theme that support mid- and small-cap companies to generate alpha. The fund will also invest in innovative and new-age companies with disruptive product and service ideas to grow faster.

Commenting on the launch of the fund, Ravi Menon, chief executive officer, HSBC AMC, said, “We do believe that mid-caps offer a more diversified universe for investment and with the current emerging themes it also offers quality investment opportunities. With a quality portfolio, we are confident that HSBC Mid-Cap Fund will be a healthy addition to the customer’s portfolio for long term compounding.”