HSBC Investments launches Unique Opportunities Fund

Mumbai, Feb 5 (UNI) HSBC Investments today launched the HSBC Unique Opportunities Fund (HUOF), a three-year close-ended equity fund which aims at investing in companies facing ''out-of-ordinary'' conditions but with the potential for long-term capital growth.

Briefing the media after the launch here today, HSBC Investments CEO Sanjay Prakash said, ''As India witnesses strong economic growth and increased corporate activity, we believe there can be visible opportunities to profit from 'out-of-ordinary' situations such as restructurings, M&As, turnarounds and new business ideas''.

The new fund can be used to diversify one's portfolio, he said, adding it should be suitable for investors who are looking for long-term investment and with a higher risk appetite.

The minimum investment amount for the offer, whose period runs from February 2 to February 22, is Rs 10,000. The fund will automatically convert into an open-ended fund at the end of three years from the date of allotment of funds.

On apprehensions that the recent hikes in the interest rates may lead to fall in the equity prices that may compel FIIs to invest elsewhere, he said, ''We've kept this point very much in our minds and hence we have decided to evaluate all those stocks that remain unexplored.'' UNI