HSBC Mutual Fund announces 100 per cent dividend in HSBC Equity Fund
HSBC Mutual Fund has announced the record date for declaration of 100 per cent dividend in HSBC Equity Fund. The record date for the proposed dividend is 08 Feb 2008. All investors in the dividend plan as on the record date will be eligible for the dividend. The fund had declared a total of 185 per cent dividend till date (excluding the above 100 per cent) since its launch in Dec 2002.
HSBC Investments (India) and its flagship HSBC Equity Fund complete 5 successful years. HSBC Equity Fund was launched in December 2002 as an open-ended equity scheme. The objective is to generate long term capital growth from an actively managed portfolio of equity and equity related securities.
HSBC Equity Fund currently has assets in excess of Rs.1397 crores as on January 29, 2008. The fund has garnered substantial assets since its maiden launch wherein the fund mobilised Rs. 35 crores. The NAV of the fund stood at Rs. 102.68 (growth plan NAV as on January 29, 2008).
Sanjay Prakash, Chief Executive Officer, HSBC Asset Management (India) Private Limited said: "Our equity fund has been a consistent performer since launch. In fact, Rs. 1 lakh invested in HSBC Equity Fund NFO would have become more than Rs.10 lakhs today. We are confident that our investment philosophy and process will enable us to perform consistently, over the long term"