HSBC Global Asset Management mulls retirement, pension fund

HSBC Global Asset Management is planning to launch retirement and pension fund in the country by early next year, a top company official said.

The company, with domestic asset fund business at USD 1.3 billion at present, is also looking at the launch of more managed solutions in the country.

India-centric funds of the fund house, which is doing business in the country for 12 years, are currently valued at USD 3.5 billion. Moreover, it is also the managers of EPFO mandate since 2008.

"We are planning to launch a retirement and pension fund in the country either by the year-end or early next year," HSBC Global Asset Management chief executive officer Ravi Menon told reporters here today.

"However, let me add here that these plans are subject to regulatory approval and are still at a discussion stage as of now," he said.

The company is also looking to bring in some foreign funds to the country.

"As a foreign asset manager, we would like to bring in some foreign funds to the country," he said, adding, "We will continue to offer capital protection funds which are very, very successful abroad." Besides, the fund house, which had already launched a managed solution in the country nearly two-and-a-half years back, is eying launch of more such funds here.

"We are also looking at the launch of more managed solution funds. We launched first such fund in the country around 2.5 years ago", he said.

This category of asset allocation, which works on technology-enabled platform, takes decision on an investor's behalf every month telling him where his funds should be allocated based on his risk appetite.

The fund house is one of largest managers/sub-advisors of country's assets in equity and fixed income with an AUM of over Rs 1,29,274 crore.