NEW FUNDS

HSBC MANAGED SOLUTIONS

HSBC Mutual Fund, India has launched an open ended fund of funds scheme 'HSBC Managed Solutions', which will invest into various asset classes including domestic and foreign equity, long and short-term debt and gold. As per the fund house, the new scheme is based on the principle of active asset allocation in which investments are managed dynamically across asset classes and re-balanced regularly to ensure optimal allocation for risk profiles. The new fund offer, which opens today, will close for subscription on April 23, 2014, a company release said. "HSBC Managed Solutions allows people who do not have the time and expertise to manage their own portfolios to benefit from flexible asset allocation executed by our global teams in a disciplined, risk-aware and cost effective approach, with the goal of capturing long-term growth," Chief Executive Officer of HSBC Global Asset Management, India, Puneet Chaddha said. The fund house also said that the new scheme is tailored to fit risk profiles of a broad range of investors and is available in growth, moderate and conservative options.

MOTILAL OSWAL NEW FUND

Motilal Oswal Mutual Fund has launched a new open-ended diversified equity scheme - Most Focused Multicap 35 Fund. The new scheme seeks to achieve long-term capital appreciation by primarily investing in a maximum of 35 equity and equity-related instruments across sectors and market capitalisation levels, a company release said. The new fund offer, which opened for subscription from April 7, will close on April 17, 2014. The scheme will allocate a minimum of 65 per cent to equities and a maximum of 35 per cent in debt or money market instruments. It may also invest in foreign securities up to 10 per cent of total net assets, the company said. "In the long run, we have always seen alternating cycles of out-performance between large-cap, mid-cap and small-cap stocks. "From that perspective, this new scheme becomes an ideal core holding proposition in an investor's equity portfolio allocation," said Aashish Somiyaa, Managing Director and Chief Executive Officer, Motilal Oswal AMC.