The HSBC CRISIL IBX 50:50 Gilt Plus SDL Apr 2028 Index Fund (HGSF), an open-ended Target Maturity Index Fund that tracks the CRISIL IBX 50:50 Gilt Plus SDL Index – April 2028, has been introduced by HSBC Mutual Fund. According to the fund house, the programme has a high interest rate risk and a low credit risk.
- According to the press release, HGSF intends to provide improved risk-adjusted performance and liquidity by combining quality debt papers.
- The fund will be managed by Kapil Punjabi, SVP – Fund Manager Fixed Income, and will be benchmarked against the CRISIL IBX 50:50 Gilt Plus SDL Index – April 2028. The fund intends to concentrate on the six-year target maturity sector in order to profit from the current volatile long-term securities outlook.
- The fund will invest in government securities, which will be included in the GSec portion of the CRISIL IBX 50:50 Gilt Plus SDL Index – April 2028, as well as State Development Loans securities, which will be included in the SDL portion of the CRISIL IBX 50:50 Gilt Plus SDL Index – April 2028.
A portion of the scheme’s assets will be allocated to money market products, such as cash and cash equivalents (Treasury Bills, Government Securities with residual maturity of up to one year and three Party Repos and any other like instrument as specified by the RBI from time to time).